6/26
UPL - test in recent weeks of the long term support trendline is evidently behind us for now, and price is moving up on increasing volume in this current rally lasting a few days now following "finding a near-term bottom" behavior in the sector -
http://bigcharts.mar...time=20&x=0&y=0
$60-61 important resistance zone jumps out on the weekly and PnF charts...the 50-day sma of 58.69 remains just above today's high:
http://stockcharts.com/gallery/?upl
this could simply end up resulting in basing behavior, which may still resolve in either direction...note the horizontal base zone, for which the former historic highs (breakout price level) of the Aug/Sept 2005 timeframe have since been tested in two different time periods, including the most recent test ...how significant is it that the low end of this horizontal price channel has twice been tested and held to support the current rally?
$56-58 is an area of support/resistance that has been in play since February....this data is from a post I made on March 15th:
" the 5-week ema has represented resistance for 5 weeks ...currently $56.09"
"20-week ema is 55.87, first intraday move above the 20-week ema in 2+ weeks."
note the put/call ratio in the Sept $70 options, and activity
Edited by hiker, 27 June 2006 - 08:19 AM.
