17.11-2007 I think Linear Technology stockchart have something very important to tell us. I am pretty sure stock will kick this level up, but even much more important as temporary pricepattern behaviour is that stock also stays at least inside in this bigger triangle, I would admit this will be breaken at some day. However, also shorter timeframe wedge formed stockpattern should support price now together, even stocastic, relative strengh, cci extera...oscillators won´t conform story yet. We have pretty massive numbers of big names priceticks just about above more major fibonacci support lines, google also made 38% fib projection on friday - far too many of them now to post all those charts. I will however post the biggest one´s if face any during the weekend while I will do programming, but I do highly recommend to stop for Linear Chart number 2 to think about it moment. This is big SOX and SMH Index name. If one want to consider more room to downside and we would take all-time-high and all-time-low fib projection, then 61.8% fib would be marked as support & turnaround somewhere between 29.80-30.20. At least I would not hunt this kind of movement as naked. This pattern is so huge, it should also open plenty of choices for different exotic derivative views. Note that in elliott wave approach, this is sideways, perhaps even complex zigzag running pattern, hardly any well recognable motive waves in charts after it hit the bottom in 2002, when it gets broken and it will, stock should start most likely new impulse waves which means a lot of power and gas to move.
$31.4 (11/18/07)
