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Getty Images
Inc - GYI
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November 29, 2006
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Last Trade
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$44.53
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Volume
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599,000
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52-Week High
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$94.25
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52-Week Low
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$41.21
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Commentary:
For today's
chart we've chosen to take a look at GYI because it is currently in the
process of testing the resistance of a descending trendline. The chart
below is a good example of how a trendline can act as a strong barrier that
prevents the price of an asset from moving higher. Why traders avoid
holding a long position when such a trendline is identified on the chart is
also apparent. Technical traders would expect this downtrend to continue
until the bulls are able to send the stock price back above the dotted
resistance.
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
QQQQ
GM
WMB
AMZN
QQQQ
PCAR
QQQQ
WMT
CBSS
YHOO
QQQQ
GENZ
THC
NEM
HUI
QQQQ
DELL
QQQQ
PD
GOOG
QQQQ
oil
QQQQ
MOGN
CIEN
QQQQ
BA
QQQQ
AGE
RMD
DE
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