patience, page-19

Big Day,hey ghost?Can you confirm to junior slappi that I had 44 as a Prediction of saucer target if Confirmed?[ie over 35.5 move]

Anyhow the thing about 44 is that is ~the price of the Long Term 150day Moving Average.Some use this Average 30wks/150 TRADING days as an indicator of a share being in Down or Up Trend depending on price being below or above it.

As for Gaps?Maybe you'll find your online book about TA may have the line about 3Days being used to define whether it's a Continuation Gap.I also point out that there is a small half cent gap at 50cents that MAY provide Resistance.

Overall,one must determine how Significant is today's news?We already knew WHAT CNX was trying to achieve-syngas so to us today's news is mere Confirmation.It did have some further clarification to me and my personal doubts on Green Credentials but really was it all that Earth Shattering or at least DownTrend Breaking? You have to make ya own mind up on that and one should not curse and disparage Sellers for having a different Opinion to you.

Main Chart Thing I see is the Shelving Down over the last few months from say 60/70;60/50 and now recently into 30/40's.Anyone looking at a 6month chart should be able to note this "effect".
In the Short Term say next 5 days we MAY see a Cup and Handle Pattern develop.This would entail up to a 1/3rd Retrace from 44 of 6 cents [44-26=18 divided by 3]
A 38 retrace would call the Gap up into play so best scenario is an intra day 35hit and Bounce back to 38 Close.Such Pattern targets 62[44+18]

Factor Obama unleashing d'Dreamers or the Vegetable System [ie Fibbo] may see though further Ups to say 50 and require a rejig of Pattern and Scenario Reading.

Ain't the Market fun?

cheers.