If you look at the chart of POH shown below, you can see that POH has repeatedly touched or penetrated the bottom of an edge band drawn over the price bars relatively or roughly regularly at the space of a month or a month and a half or so( shown as light blue dots ). As a result, you can see it has risen and then fallen to the bottom of the edge band a total of 9 times within a period of Dec 2008 till Oct 2009, the latest being yesterday and, of course today, at the time of writing this post.
But each time once it falls to the extremity, it either holds on ( especially after a gap )for a few days and then rebounds- but everytime it does rebound from the extremity or edge band on touching it or penetrating it.
With a low at 0.083 which was touched this morning ( if it holds ), the statistics favour that to be part of the penetration of the extremity or edge band - the 8th time for this year where support will come in to attempt to usher in a rebound, as shown in all the past cases it had done so.
May the best prices be yours
dascore
POH Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
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