shylock - where are you?, page-13

Hey guys


Fundementally the reasoning behind the fall in share price I believe is linked to the fact that the northern hemisphere winter is coming to a close and the swine flu story has lost its appeal to the mainstreet press.

The run up in share price this year can be attributed to the swine flu story and as it in itself is coming to an end you can understand the market giving back some of what it inflated

As far as Ta is concerned I think Selmax has nailed it to a tee read his thoughts I do not want to steal his prognosis

I do agree that the stock is due to bounce soon and current level does not only provide support, has closed the gap and is a point of fibonnaci congruence both on the daily and weekly, a bounce may be seen as soon as monday

The bounce if it occurs should be to about 2.52ish which is area 38.2% retracement of the move down from 12/4/09 and area of prior support.

This level is very critical and it it holds and price turns down I can see a gap at $1 and the 100% retracement of the whole five waves up as our worst case scenario.

If this level is surpassed the weekly is now showing four waves up and ready for a fifth wave higher to a larger correction but at a higher level as a best case scenario to about $3.60 (wave1=w5) or $4.50 (wave1=1.618w5)

The other inbetweens as I stated above are similar to what selmax is envisaging, his moving average ananlysis is spot on


Thx Shylock

P.s I believe we are in for a short term bounce. Price from 2005 has been steadily falling and this years rise looks coupled to the swineflu saga. As such If BTA share price is to continue onwards to prior highs we better hope the media can drum up more pandomonia because the share price in the future is going to need it

P.s.s thx wilsojrw for your support. I do like the stock I only try to ready the graph and relay what I see I do not own it and as such have no invested interest in the stock other than to hone my TA skills.