nice big bite, page-14

Hi nuts,

"Thanks vendor,
What technical basis is there for a 6c call? I would have thought there was support in the 9's."

Nuts, I think that question is for the author who posted that on hotcopper.
Support was around the 11-12 cent mark, as i see it.

"My novice (lack of?) understanding of charting requires there be a historical precedent of sorts.
Last time it was in 6's was Aug '09.

once again ask the Author, i dont think coolstocks worked out the 6cents himself, i think it was taken from another posters post. And if i thought it would be 6cents at xmas i wouldnt have taken an entry. I am with madmacs as far as a stop goes, i have 12.2cents at the moment but as it is trailing it will move.

"The only imaginary line I can see from that (on the weekly) seems to be a support in late Aug and Dec '10, then Dec '11 and late Jan'12.
Becoming resistance in at 19.5c week of 24th Sept.

If you refer back to my two charts that i presented i drew on the weekly and monthly the main trendline that PRR needs to break technically to position itself out of this long term down trend.

"By the same token, we'd need to rise 35% to hit 19c. and in the absence of news, is that likely?"

Well i believe it is possible, i believe most buying is done prior to announcements and generally the sell off comes when the announcement is made.

Good luck nuts...


Cheers