Stock Chart Analysis LEH
Lehman Brothers Holdings Inc. (Public, NYSE:LEH)
Financial Stocks have been under performing throughout the recent rally, and should lead the way lower on the next downturn. LEH's chart is interesting as resistance is clearly defined, yet the lower boundaries of support are still open to much interpretation. It looks like the $49-50 is the clear ceiling until proven otherwise. It looks to me like it may probe for support in the coming sessions as supply seems to be overwhelming demand. I don't know how much lower it will go before buyers step in, but LEH could easily drop 5-7 points from here and still be confined to a trading range. That is over a 10% move from current levels and the stop is manageable as well.
Good Trading,
Joey
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