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madrose1

01/30/06 8:48 PM

#453524 RE: madrose1 #453203

Elan Corp-ELN: Earnings Release Technical Preview

BULLISH CASE: On better than expected news/outlook the stock could trade to the midpoint of the bullish price channel at $16.40. Next upside target would be resistance at $17.96 and the upper limit of the price channel at $19.03.

BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $14.26 (stock closed nearby in prior session). On a bearish breakdown through the price channel the next downside targets would be at the following support levels: $13.10, $12.73, $12.11, $10.62.