From low 6.7c (28/11/07) and 13.5c high today, FDL has completed FIVE waves and have passed 0.618 rule at 12c. The next retrace should be :
1) 13.5 – 0.818(13.5 – 7.7) = 9.91 = 9.9c
2) 13.5 – 0.618(13.5 – 6.7) = 9.3c
IMO, with a billion shares plus no drilling, FDL will retrace soon. It may drop back 7.7 or 6.7c again. Day traders and brokers (still hold mils shares @ 1.2c) are trying to pump and dump.
Good luck and Happy New Year To All.
FDL
flinders diamonds limited
