As an opportunistic investor the average length of my trades is 3 months. DYE has already been kind to me & I hope will be so again.
Since the low of 20 Nov, 2008 DYE has repeated a 27c - 28c range move on three occasions: 7/1 to 4/2, 13/2 to 10/3, 10/3 to 27/3.
Since 21 Jan 2008 it has repeated a 47c to 55c move on four occasions: 22/1/08 to 21/2/08, 9/5/08 to 27/5/08, 8/9/08 to 10/10/08 & 10/3/ to 24/4
Based on those recently repeating ranges & the recent possible swing low of 82.5c: . 82.5c + 27.5c => $1.10 . 82.5c + 50c => $1.325
Then again, based on the recent swing high of $1.15: . 115c - 27.5c => $0.875 [already exceeded] . 115c - 50c => $0.65
Using ProfitSource software, daily Elliott Waves are projecting a steep rise to between $1.23 & $1.35 by July 1st.
Although most weekly Elliott Waves are bearish they show as having completed Wave 5 as of 10/10/08. Exceptions to this are 81 to 91 week Elliott Waves which project down to $0.25 by 26 Nov 2010.
FWIW I bought again at 82.5c based on the 61.8% Fib retrace [March 10 low & April 24 high]. I expect a rise since the Slow Stochastic indicator [50:30] has fallen almost to the 'oversold' level on falling volumes.
4YIO - NFA - PDYOR
GSL Price at posting:
86.0¢ Sentiment: Hold Disclosure: Held
