10 years performance, page-17

I by no means call myself a chartest, I like them as they show trends using past history, we are creatures of habit and have programmed our charting software to react the same way we do.

From about Aug last year to now a descending triangle has been forming, lower highs with higher lows, this triangle has been getting a smaller wedge and sooner or later a break out has to happen, the gap between wed and thur was filled friday, resistance appears to be at $27, the top of the triangle is about $27.50 and the bottom of this descending triangle is around $26.20.

As I post this the sp is already 25 below todays open and high of $27, now you would expect the sp to fall a little from Fridays gains, people are here to make money, profits will be taken and those who bought high Friday or today may be selling to soften their losses.

Would like to hear what Mongombolo thinks about filling gaps, I have read a lot of his posts and looked at a lot of his charts, the only recent gap that has not been filled is back in Oct bewtween the 8th(29.73) and 11th(29.22), so the little mile stones to reach that gap is to first close above $27, then close above the descending triangle at around $27.50

In the short term I think the sp will drop a little more yet,the lower it goes the more you can buy for the same money right, and the more you have the bigger the div payout you get, wow is a large solid company and will at some stage climb back up. I am not a long term holder so the price of the stock doesn't worry me.

A quote from a pro home trader called Daryl Guppy "I am not looking for the mother load, I am here to collect as many small nuggets as I can"