Etrade ETFC Stock Technical Analysis 8/31/09

The following is technical analysis on E*TRADE Financial Corporation (ETFC) for August 31, 2009

E*TRADE Financial Corporation (ETFC) Support & Resistance Levels - 8/31/09

Resistance Levels - $1.69, $1.80, $2.00

Support Levels - $1.50, $1.42

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Etrade had a huge breakout day on Friday and closed above the $1.58 resistance. The breakout was on heavy volume and the stock is now breaking up and away from all three major moving averages. Aside from the high of $1.69 on Friday, the next key resistance levels are located at $1.80 and $2. A break above $2 would get me to buy the stock and a close over $2 would get me to buy even more. Pullbacks to the 10 day moving average should offer a great deal of support going forward given the move on Friday. For More Technical Analysis - Go Here

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