Today we’ll analyze the stock Merrill Lynch and Co. (IPB) for online market trading,
Technical indicators to notice in Merrill Lynch and Co. (IPB)
1- Last bullish trend was from 18.86$ (3/19/2008) to 20.50$ (5/9/2008) a 1.64$ move
2- The current bearish trend started from 20.50$ at 5/9/2008 and is currently trading at 19.91$.

3- IPB current support level is at 19.87 which is the 38.20% fibonacci retracement of the last 1.64$ move.
4- IPB current resistance level is at 20.11 which is the 23.60% fibonacci retracement of the last 1.64$ move.
5- According to ADX, the trend is currently strong bullish,which is becoming weaker.
Merrill Lynch and Co. (IPB) Short term chart patterns :

6- The Stock formed Double Top Pattern at 20.5.
Merrill Lynch and Co. (IPB) Mid term chart patterns :

7- The Stock was resisted by a resistance line, identified by two points: 20.77 and 21.22, and is currently resisting at 19.996.
Merrill Lynch and Co. (IPB) Long term chart patterns :

None.

Conclusion:
Merrill Lynch and Co. (IPB) was trading in a strong bullish wave, which is becoming weaker .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .

Resistance Levels: 20.00, 20.05, 20.11, 20.14, 20.20, 20.27, 20.49, 20.50, 20.50, 20.69, 20.75, 21.40, 21.92, 21.93, 21.94, 21.97.
Support Levels: 19.87, 19.68, 19.49, 18.86, 18.41,.