daytrade diaries... november 20, page-9

Yes Westpac Broking web site is 'experiencing difficulties"

Now for anyone interested in day trading BCC...

If you follow ta and the fibonacci retracement ratios then you might be interested in this weekly chart.

The next two levels of fib retracements for target setting, also correspond with some previous points of resistance and support, so would seem quite important.

32.8% - 17.5cents
50% - 22cents

Being so close to the spud date now and with the drill results having a 90% chance of success, the momentum has really started to work its magic. There were many professional large orders going through yesterday and there were no lack of buyers at this level.

As the fundamentals are driving the momentum here I think ta has its place in finding targets ahead, not retrace levels below. With the strong surge yesterday I believe that 17.5cents will be an easy target to achieve. The 22cent target(or higher)is where the sp is highly likely to reach by spud. The strength of buying and high level of interest will push the sp along very quicky. We've seen this for a while now in BCC and seems to fit the sp behaviour of this stock.

Good luck to all holders and I think 22cents is looking good for a short term target.