technical chart analysis

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http://finance.messages.yahoo.com/bbs?.mm=FN&action=l&board=7077829&tid=oe&sid=7077829&mid=38342
Regards

Desmond

Technical Analysis
by: eugkol (67/M/New York)
Long-Term Sentiment: Strong Buy 10/20/03 09:11 pm
Msg: 38340 of 38342

On the NYSE, the OE chart looks very good. There is a Reverse Head and Shoulder forming. The breakout will occur when the price will cross the neckline at $5.50 with a volume of at least 10,000 shares(I would like to see 15-20,000 shares, average 50 day MA volume is 8,100 shares). The price target after the breakout is approximately $7.50.
On the Australin Exchange, OEC charts looks very good also, even better. There is also a Reverse Head and Shoulder forming. The breakout will occur when the OEC price will cross the neckline at AU$ 0.23 with a volume of approximately 1,000,000 shares (average 3 month MA daily volume is 776,000 shares). The price target after the breakout is AU$ 0.33($9.12).
This is only a chart interpreters point of view. Things very often do not workout according to charts, but very often they do.

Re: Technical Analysis
by: q39 (39/M) 10/20/03 10:17 pm
Msg: 38341 of 38342

I'd pay a lot more attention to the Aussie chart than the US chart.


Re: Technical Analysis
by: eugkol (67/M/New York)
Long-Term Sentiment: Strong Buy 10/20/03 10:34 pm
Msg: 38342 of 38342

I agree. Thats where the action for this stock is. In US, the market action for this stock is a reaction, at least at this time. One can see that from todays OE price: on ASX the price was $5.66 in US it closed $5.28.