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News Breaks
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November 9, 2009
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| 14:56 EDT |  | HEW |
| theflyonthewall.com: | Hewitt Associates : Earnings release technical preview, small short-base | | BULLISH CASE: On better than expected news/outlook the stock could trade to the upper limit of the bullish price channel at $38.61 -- break important year-to-date resistance at the $38,30 area. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $39.55, $40.39, $41.16, $42.22, $43 -- lifetime high. BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $37.19. On a bearish breakdown below the price channel the following support levels would become downside objectives: $36.42, $35.85, $35.28, $34.68, $34.09, $33.51, $32.59, $32.09. NOTE: Small short-base in terms of days to cover at 2, with 1.4% of the float short. Traders are positioned for positive news. Reactions on a surprise, especially a negative one given the small short-base, have a high probability of being extreme in duration and price. :theflyonthewall.com |
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