A Strong Signal From DirecTV

In my technical-analysis work, DirecTV (DTV) is one name that's caught my eye lately. This is partially due to the similarity of the corrective declines within the stock's larger uptrend, and I'm also liking the price level of DirecTV's Nov. 13 low. This area contains a strong confluence of Fibonacci price relationships between $47.48 and $48.06.

DirecTV (DTV) -- Daily I Source: Dynamic Trader View Chart » View in New Window »

Let's explore the daily chart first. The first major decline, as illustrated above, lasted 36 days and amounted to a $7.15 drop in the shares. The second lasted 30 days and came to $7.48, and the most recent decline -- again, into the Nov. 13 low -- was similar to these, totaling $7.17 and having lasted 33 days....272 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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