"208.48p is the 38.2% Fib level on my chart...today's support, thus far."
The area around 208p has indeed continued to provide support. In fact all the price action has been in a channel bounded by the 38.2% Fib level and the 23.6% Fib level at 220.51p, which is also chart resistance going back to February.
A Flag? Maybe. But the confirmatory decline in volume can be attributed to Christmas trading.
If it is a Flag then the target is around about the closing high of 27/4/04...253p.
The next area of resistance may come in at 227.75p, the 23.6% level on my longer term Fib study. After that...240p.
The daily indicators are showing an overbought condition with many on the cusp of turning bearish...the weekly indicators, however, are bullish albeit a tad overbought...not a problem in a strongly trending share.
220p is still putting up a fight!
M
Claymore/Robeco Developed Equity Etf Stock Charts :
Claymore/Robeco Developed Equity Etf Historic Stock Chart
Claymore/Robeco Developed Equity Etf Intraday Stock Chart
Claymore/Robeco Developed Equity Etf stock quotes
Claymore/Robeco Developed Equity Etf stock charts
Follow this thread
