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Thursday, February 02, 2006 3:11:46 AM
Tesoro Petroleum-TSO: Earnings Release Technical Preview (watch for pop , then profitaking )
BULLISH CASE: On better than expected news/outlook the stock could trade to the midpoint of the bullish price channel at $71.34. Next upside objectives would be at the following resistance levels: $71.86, $73.18 and $75.63 (the upper limit of the bullish price channel). Next upside objectives (by average range projection) would be $77.89 and $80.22. BEARISH CASE: On worse than expected news/outlook the stock could trade to support at $68.45 and to the lower limit of the price channel at $66.96. On a bearish breakdown below the price channel the following support levels would become downside objectives: $64.50, $63.19, $62.58.
BULLISH CASE: On better than expected news/outlook the stock could trade to the midpoint of the bullish price channel at $71.34. Next upside objectives would be at the following resistance levels: $71.86, $73.18 and $75.63 (the upper limit of the bullish price channel). Next upside objectives (by average range projection) would be $77.89 and $80.22. BEARISH CASE: On worse than expected news/outlook the stock could trade to support at $68.45 and to the lower limit of the price channel at $66.96. On a bearish breakdown below the price channel the following support levels would become downside objectives: $64.50, $63.19, $62.58.
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