weekend charting 1st of may, page-71

  1. 1,603 Posts.
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    BTA

    10....adding to your excellent (as usual) chart.

    Chart below shows decending triangle pattern playing out. Two targets to choose from although I suspect the Blue range is more valid. There are those gaps though which SP may come back up to fill and retest triangle base before heading down to complete the range? Hard to belive for those holding from above $2 but I watched MEO fall from a similar pattern, over 6 months it fell from 82c all the way down to fill a tiny gap at 32c and then complete the range at 30c. When I first drew the pattern at 49c I just shook my head and screwed the chart up and threw it in the bin! so I feel for any holders.



    Pure speculation on my part and not a recommendation to buy or sell.

    Rhodes

 
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