Ambac Financial Group - ABK
|
March 14, 2007
|
|
Last
Trade
|
$86.48
|
|
Volume
|
2,946,085
|
|
52-Week
High
|
$91.83
|
|
52-Week
Low
|
$76.79
|
|
Commentary:
For today's chart we've chosen to take a look at ABK because it has been
trading within a long-term rising wedge formation. As you can see from the
chart below, today's bearish price action has sent the stock below the support
of the ascending trendline on very heavy volume. This breakdown will likely be
used by the bears to signal the shift in the prolonged uptrend, but in the
short term, we expect many traders will watch for a move back toward
today's low near $83.50.
|
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