PDN 2.89% $9.73 paladin energy ltd

madmacs (and anyone) re: andrews pitchfork ta

  1. 79 Posts.
    When I drew this I chose November 2003 as my start point (when the price began to move up). This gives a significantly different location for the median line which is currently at around 1.12. Andrews theory should have the price rise to meet this line in the short term. However you (Madmacs) chose a later starting point (about the start of Sept 04). This has the median line currently above the high of 1.22 which is major resistance and probably of a greater bias than the median line. Interesting to note in your chart these two resistance lines coincided at the more recent high. I am wondering why you chose that start date for your pitchfork?

    Andy
 
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