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Toll
Brothers Inc - TOL
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November 7, 2007
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Last Trade
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$21.03
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Volume
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2,474,100
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52-Week High
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$35.64
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52-Week Low
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$18.85
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Commentary:
For today's
chart we've chosen to take a look at Toll
Brothers Inc. (NYSE:TOL) because the
company's stock has recently bounced off the resistance of its 100-day exponential moving
average. As you can see from the chart, we've also identified a triple top
pattern, which will likely be used by technical traders as confirmation of
an expected move lower.
It will be interesting
to see how traders react to tomorrow's earnings announcement. Given the
downward sloping moving averages, we believe that most bullish traders will
likely choose to remain on the sidelines until the results are made public.
There is no doubt that it will take some good news for us to see the stock
overcome the resistance.
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
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