Anixter International, Inc. (AXE)

synergize (99.68) Submitted: 5/08/08 2:34 AM : Start Price: $63.00 AXE Score: 14.73

The stock is in recovery phase. The recovery phase occurs after the market has bottomed and is showing weak signs of recovery. The prices may have temporarily stopped falling. The stock gapped up last 29-Jan-2008. It made lower highs and lower lows.

The stock has retraced 14% from its recent high price of 72.55 which occurred on 13-Feb-2008. The current price is below the 50 day moving average of 62.63. Sustained move below the average could put the recent uptrend in jeopardy.
Stochastics also shows that it’s already in the overbought.

The closest support can be found at 56.97. The closest resistance can be found at 67.81.

Please remember that this post presents only my opinion. You should use your own judgment and seek appropriate advice for any investments ideas.

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