'wild frenzy trading' chart anaylsis 6/1/04

they say all good potential investors should @ some stage hand draw charts to get a good feel for stock price movements

so i did just that last night on the frenzy market trading on 'nhr'

what this showed is that the momentum was consistent
all day and both support and resistence levels continued to change throughout the day
i came up with the following(approximate):

'resistence'-38c,39c,39.5c,41.5c,42c,&42.5c= ave of 40.42c

'support'-35.5c,37.5c,38.5,39c,39.5c,40c,&40.5c=ave of
38.64c

these figures are very apporoximate and no reliance should be made of them!

what the exercise helps illustrate is that there was strong support for the stock all day(on 6/1/04 even though no news was reported to asx) resulting in increased momentum,volumes,share price (appreciation),resistence & support levels increasing consistent with a potential bullish and future higher price on a longer term basis

please read the asic notice below and always consult your advisor(if u still have one!)