Trade Idea - ERTS
Thursday, November 15, 2007
Shares of Electronic Arts were down yesterday more than 3% to $55.56, demonstrating that its 50 dma for now it's a really big resistance to break. At these levels it will be intersting to see if stock can sustain the selling pressure at $55, because it is the latest support before $50. Looking at the daily chart, indicators are still showing Bearish signals, with MACD fast line below slow line and below 0. In addition it also important to refer, that RSI it is alreayd below 50. So, many indications are in favor of Bears, and they are controlling the stock right now. Resistance $57.14 and Support $55. Keep an eye on ERTS.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: ERTS
