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9,472 Posts.
5319
15/06/07
11:58
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I indicated a couple of days ago that GDN was in a "falling wedge" pattern.
These patterns have a high chance of breaking upwards.
The price has now broken the down trend line which has been in place for some weeks.
This has a 98% chance (Bulkowski's "Encyclopedia of Chart Patterns") of becoming an uptrend.
Not bad odds for a punter?
Of course, it can always be a false break.
And we haven't seen the end of today's trading yet.
This stock has a habit of selling off in the afternoon.
We shall see. We shall see
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