Sunday, November 11, 2007

FPH - unhealthy retracement

FPH = 80 (-3.0%)

Your Ad Here
FPH formed another black candle with lower high and lower low. Bearish

After running with an upward bias FPH seems to be headed south some more as it has retraced more than 50% of its recent run. After breaking the 50% mark the next possible bounce would likely be at the 61.8% level (78-79) level which is likely not a very healthy retracement. With that, 88.5 would likely be a significant level of resistance for FPH. If FPH does manage to bounce it will likely be trading sideways for the recent future.

Good luck to all FPH traders!
Western Union.Mac (Apple Computer, Inc.)Iomega CorporationFujitsu Computer Systems CorporationLinkShare  Referral  Prg

No comments: