ABK, MBI analysis 8/29/08 - Ambac, MBIA support and resistance 8/28/08

ABK and MBI are looking a little weak in pre market today thanks to the lower futures by Dell Computer. Dell completely below it last night missing by .05 cents per share.

http://daytradingstockblog.blogspot.com/2008/08/abk-mbi-hot-stocks-82808-ambac-mbia.html

Ambac and MBIA went up 35-40% yesterday so some profit taking is expected.

Support and Resistance Levels ( ABK ) & ( MBI )

MBIA - MBI has support around $15.50 - $15.70 area.....a break below this with some volume and $15 would be tested and possibly $14.40's could be tested....this was a solid support level 8/28/08. A close below $14.40 and you will need to bail....this would be a breakdown of the 8/28/08 trading action. Resistance will be yesterdays high of $16.29 and the close of $16.15.

Ambac - ABK has minor support in the $7.10-$7.16 area, then support at around $6.90. Ambac went straight up yesterday from about $6.05 to $6.40....then paused for a half hour, followed by the explosion to $6.90. Resistance will be yesterdays high of $7.58 and the close of $7.42.

Hope this helps!!

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