Gavtech, thanks. Drarthur, sorry I spelled your name (above) wrong.
As Fib predicted, target 5.5c has been met. Support line at 4.3. __________________________________
Market has pushed DOW/XAO up too fast, too soon (overprice),Chinese tight up bank loan, EU problem (Greece), US debt too high, etc. This retracement can be deeper.
Test Fib retracement of XAO
Fibonacci Calculator High:4984 Low: 3050 Retracement 23.6% = 4528 (done today) 38.2% = 4245 50.0% = 4018 can be and sideline. (if this happen and NO GOOD NEWS RRS can be 4/4.5c again). 61.8% = 3790 78.6% = 3465 100.0% = 3050 impossible
This is my view and guess by chart/Fib only. I can be wrong . Plse DYOR and good luck to all. ________________________
DJ Wegs, I never claimed that I sell at top and buy at bottom because I dont know when it top or bottom . What I try is to buy as low as I can and sell as high as I could. Usually I set stop loss, if sp up, I move stop loss up (as I dont know how high sp will be up) until the trigger is hit and that sell order(s) gone (sold a bit below top). You should use chart/Fib and guess level you like to buy/sell. As today, I intend to buy 5.5, but I wait until 5c or less because DOW/XAO still very sick, and chart shows more chances of lower, so I sit on my hands and wait. My guess maybe wrong, you need to make your own decision of buy/sell(as I have other stocks to look after)
RRS Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
