Chart Analysis: ANI (December 1, 2009)

Figure 1. ANI Price Chart

ANI is starting to form a trading range with upper range at around 30 and lower range at around 27. This is base on the major fibonacci support and resistance line. Right now ANI has to breach the 50% fibonacci line at 28.50 to be more bullish.. Short term TP for this stock is around 32.

 

Figure 2. Technical Indicators

Momentum is bullish when its value is above zero and bearish when below zero. Momentum closes with a bullish momentum of about 5.75.

The RSI shows overbought (above 70) and oversold (below 30) areas.  The current value of the RSI is 54.23.  This is not a topping or bottoming area.    A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.  The last signal was a sell 17 periods ago.

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20).  The Stochastic Oscillator is 31.75.  This is not an overbought or oversold reading.  The last signal was a sell  18 periods ago.

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 5 period signal line.  The last signal was a buy 4 periods ago.

Overall look for opportunity to enter for a buy.