target 27.5c?, page-7

re: target 27.5c? chart and analysis Sorry guys, a post like that deserved some explaination.

Trawling sectors at the moment and HDR was interesting.

Below you will see the HDR chart.

The break of primary support at (1) was the warning that whatever recovery occured (which in any event rarely exceeds the resistance at 61.8% = 67c) was eventually going to be followed by a plunge back through the 100% = 52c support. In the evnt the rally didn't even reach the resistance (2). Not a good sign strengthwise.

The intermediate 50% and 61.8% supports at 40c and 37c respectively are usually the next places to look for a bounce. The intermediate 'soft' 50% support (3) hosted the rally with upward resistance likely at 46c and the stronger 52c. A break above 52c (4) would be a good sign.

More likely though is that the chart overall still looks bearish to me and this would suggest the probabilty lies in favour of a further failure and a fall to the next decent support (5) which is 27.5c.

ps abuman - I don't post stuff of this type unless it is my best call. I try to post to the overall benefit of discussion within the HC community as I know many others also do. If you hold and I am wrong then you will certainly have the last laugh.

As always this is only my opinion.

Cheers,