Technical Analysis of Financial Markets

Friday, December 29, 2006

Anaren Microwave, Inc. (ANEN)

Manufacturer of wireless communication components Anaren has broken an 18-month trendline which saw stock price rally some 170% in that period. The broken trendline may signal a trend-reversal. However, price action held support at the 50% Fibonacci retracement level and is currently testing the underside of the trendline. Stop-loss for a long position: close below $17.15; stop-loss for a short position: close above $18.50.

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