Financial Market Analysis
By Shawn R. Carpenter
Friday, December 12, 2008
ABX
In the short term, ABX has been ranging in a downward channel since July of 2008. It has since broken out of this range. Also, there is a slight Head & Shoulders bottom forming, confirming an up move. Potential for the price to head higher towards 33.60, 35.75 and 40.60. Stop/loss would be a break of the old resistance/new support level at 27.25 ish level. ¶ 9:48:00 AM
In the short term, ABX has been ranging in a downward channel since July of 2008. It has since broken out of this range. Also, there is a slight Head & Shoulders bottom forming, confirming an up move. Potential for the price to head higher towards 33.60, 35.75 and 40.60. Stop/loss would be a break of the old resistance/new support level at 27.25 ish level. ¶ 9:48:00 AM
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