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Checkfree- CKFR - Head and shoulders pattern
Casey Murphy - May 10, 2007


Checkfree- CKFR

May 9, 2007

Last Trade

$36.27

Volume

1,756,838

52-Week High

$56.66

52-Week Low

$33.28

Commentary:
For today's chart we've chosen to take a look at Checkfree Corp. (Nasdaq:CKFR) because the bears have pushed the price toward the neckline of a long-term head and shoulders pattern. The two years that it has taken for this pattern to develop is suggesting that we could see a move toward the August 2004 low over the next several months.

Many technical traders will keep a longer-term bearish outlook on this stock, which will be strengthened in the event of a move below the $33.38 level. This stock is in an interesting position because now is the time for the bulls to step in if they would like prevent a decline toward $25.


 


Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor


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