chart masters needed, page-23

For introduction, please see my post:

Post #: 6271079


From there, its apparent that the share has dropped under the 16 and 12c marks.

And IMO, the next stop, if the share doesn't find support, is to be trading around the range of between prices
8.2 - 10.5c

This range can be viewed as the first breakaway range, occurring on 29 Dec last year.
Previous to this, the share had an upper range of 7.6.

So now that the share has collapsed through the 19, 16, 14 and 12c levels, from the higher 20c level it achieved in January, predicting the low-range potential from here is simply a matter of counting the price levels backwards from January to November.

Basically, having a 'good idea' or proposal means nothing to a market when its share is in freefall
(See Jan Announcements).
A good idea doesn't prop up the price, but its recepetion does. something to note is how the Jan announcements didn't create bouyancy (medium term beleif and consolidation) but only created a spike (short term excitement, mostly by daytraders and money men who could manipulate the share to their own benefit).

I am not saying that this share will tank, but what i am saying is that if such a thing was on the cards - due to a lack of follow up info relating to the supposed test burns and January's JV mentions etc - then one must be prepared to count backwards through the price levels from January and into 2010.

I tried very hard to justify my opinion when i first began commenting on this share and i did it to the point where some were disatisfied with the facts i brought to light. Now it is irrelevant to have a go at my opinion, as the share has indeed fallen and so now it may be more relevant to heed an opinion other than "dont worry, it will recover".
...Well maybe it will, maybe it won't. Only more news will show the way. And ion tha absence of news, the share wikll continue to present to many as having several uncertainties about it, from the proposed coal mine (not approved, may be and may not be approved - my opinion is that it will take at least 4yrs for any new coal mine in Aus to be approved in any case), to the JV, that is not completel;y sealed either (there are many examples of shares klike this in the market, which spike and then return to earth within 2 mths) and the test burns, that have so far been postphoned and the market is yet to recieve direction on when a new deadline will eventuate for the burns.

I wish all the best to everyone and i remind that now that the Nuclear Industry is going to be put on hold, worldwide indefinitely, that a new replacement affordable industry must be found that offers an abundance of fuel, low-expense and most importantly it needs to offer reliability: Black Coal Equivalents, made from Low Cost Brown Coal that has remarkable/Superior Carbon Output values to Black coal itself.

Hence, a market has opened in my mind.

Good luck all'

L