credibility, page-55

Denum,

Anyone can look at that chart and see obvious resistance at 24.5c, and obvious support at 9.5c... that is not rocket science.

13.5c is as close as you will get to the significant Fib retrace level of 75% from the 26.5c high a few weeks ago (assuming the 9.5c base).
To apply a Fib projection (23.6%, 38.2%, 50%, 61.8% or 75%) target on a bounce from this 75% retrace level will give you a multitude of values between 13.5c and 27c, your pick is as good as anyone's on this forum!

Conversely, CVI could retrace the full 100% to the 9.5c level that started the last move up.

All of these are possible targets, but good on anyone who is willing to pick a target sp 3 weeks away in the current economic climate.

The market could collapse underneath you with the overnight failure of Lehman bros, DOW could fall 500pts, XAO the next day could fall 350pts, margin calls triggered, stock sold under your feet, CVI could print 5c on the back of this mayhem.
Flipside, Mark Smyth might surprise and deliver a concrete drilling schedule and the stock could hit 50c.

So why would you try and pick the price in 3 weeks time based on technicals, when fundamentals can obliterate that in one single new release?