Dean Foods

Dean Foods, DF, traded down today a bit. Daily chart below.

www.freestockcharts.com

I'll talk about the Fibonacci levels first. They have a history, on this chart at least, of being sloppy with their levels. Because of that I'm going to say that they are currently at their Fib resistance rather than underneath it. I labeled all the Fib points sequentially on the chart. The current is labeled "10?" because it is yet to be seen if it will catch on that resistance.
Next, the current peaks. Both of them are around 19.00 with the more current one being a bit lower. I suppose you could interpret this as a bearish sign but I think it's a bit early to be calling it. Current lows, look at "9" and "10?", are rising. This could change if the price action goes below the "10?" area.
Finally we have the channel I drew. This channel is weak, there are only two touches on the bottom and two, maybe three, to the top. I like channels to have more hits and less black space (space with no price action). You probably noticed that there are two lines on the bottom. These lines have the same angle. The higher line gets broken twice but also holds twice, the bottom line gets hit twice but the last hit "10?" might turn into a break if the price continues to fall. If those lines are going to act as support then DF is currently at the bottom of it's range.
No trading points for this one. I think it's worth watching but right now it's too risky to try to trade, in my opinion of course.

This stock is risky. The current setup does not show bullish pressure, the trend lines have only two touches each, and the stock is trading below a Fib level. I know I said they seem sloppy when it comes to hitting Fibs but it still doesn't sit too well with me. The thing that interests me is the amount of gap ups they've had. This stock is volatile, they could hit 19.00 or so by the end of the week. Then again, they could hit 14.00 by the end of the week. One last thing, I didn't include the weekly chart but there is one interesting thing on it. The price action seems to be bouncing off the 38.2% Fib level to the downside. If you own DF you might want to set a SL around 16.00 so you don't get burned too bad if they continue their fall.

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Do your own research before taking any position. I don't have a position in DF nor will I be taking one in the next 72 hours.