I'm a great believer that charts repeat themselves over and over, and with this in mind, i think that linc is not too far from a base. On only 3 occasions , this being the third since listing has the RSI hit or come close to the 20 mark, and we are just about there now. On each of the previous 2 occasions , the first being mid Jan 08, and the second being end of Dec 08, the share price had retreated 80 % from its previous high, and finally bottomed out within a month. Should the same happen again now, and todays price of 1-46 represents an 80 % drop from its recent high of 2-68, then the bottom should have a target of around $1-16 per share. This also aligns with the major trend line support going back to may 2007, and close evough to the $1-10 mentioned.
This should tie in with the fundamental view, ( I believe you've got to look at both tech and fundis ) that a sale of some of lincs assets will happen at some point and this should also help to support the share price.
It's my oppinion only, that accumulation in stages through the $1-50 to $1-10 level, will yield a positive result, and keep a little spare just in case... I have started implementing this strategy myself, though from a start of $1-75 ... in 25 cent increments, and will be in 15 cent increments from $1-25 to the bottom and back.. Might not be a great plan, but it's a plan, and intend to stick to it, can't see where it can go wrong, (famous last words ) Whatever others believe is their own business, but I think now is the time for buying, at worse holding, certainly not selling.. but thats only my oppinion ....
LNC Price at posting:
$1.47 Sentiment: Hold Disclosure: Held
