Hi friends from the Charts forum,Here's highlighting a possible...

Hi friends from the Charts forum,

Here's highlighting a possible turning point for this bioshare POH that might be of interest for those who consider Pitchforks and Cycle Swing projections:

Observations:

1. Price has been staying above the median pitchfork line for 6 days

2. Dynamic cycle swing oversold-overbought indicator has turned blue with a rehook from the oversold back above the bottom line, indicating a possible rebound is currently in progress. This has been its classical way of a short term rebound for most cases in the past as can be seen in the chart.

3. The projected cycle and the historical actual cycle shows a good correlation as marked on the chart for the most recent cycles, indicating a good chance of the turning point occurring on the projected bottom chord length as shown--- the most likely date being tomorrow 18th Nov 2011 for this short term swing. As tomorrow is Friday, a plus one trading day to Monday 21st Nov is also possible and is also normal. So be aware of its possibility!

The projected date is just a NORMAL cycle swing, it does NOT mean the ultimate bottom or anything more important than a normal short term swing, and must not be misconstrued that this is the ultimate bottom or any more significance placed on its occurrence than is normal). However, it DOES mean that for those who are looking for lower risk entry points, this projected short term cycle swing is a possible good entry point, with the likely projected cycle top occurring when the chart tops over in it's next turning point at the projected cycle peak for short term profits.

4. Have fun, and have a great time for the weekend! A good hello to friends from the POH forum watching this chart as well!

Cheers

dascore