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ADTRAN
Inc - ADTN
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February 27, 2008
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Last Trade
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$19.40
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Volume
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523,837
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52-Week High
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$28.72
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52-Week Low
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$18.35
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Commentary:
For today's
chart we've chosen to take a look at ADTRAN
Inc (Nasdaq:ADTN)
because it broke out of a symmetrical
triangle and now looks poised to fall toward a significant level of
support. As you can see from the chart below, the bears have been in
control of the stock's direction since the beginning of 2008 and there is
no reason to expect this story to change any time soon.
We believe that
technical traders will protect their positions by setting a stop-loss order
above the nearby resistance (blue dotted line). This chart is interesting
because the current level offers an interesting risk/reward ratio
- technical traders will set their price targets near the support of $14.40
(red line)
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
MET
DDS
MMM
ADSK
EP
CELG
TOL
LEN
QQQQ
PTEN
FE
QQQQ
QQQQ
JCP
QQQQ
LEN
AEP
HUI
ORB
QQQQ
ATI
QQQQ
QQQQ
JCP
CKFR
QQQQ
QQQQ
APOL
QQQQ
AMED
QQQQ
EBAY
QQQQ
INAP
QQQQ
GD
QQQQ
INTC
QQQQ
ABK
QQQQ
NTRS
QQQQ
ACE
BJ
ALL
GGG
BA
WMB
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