re: Will not fall below 8cents.........some techni
OK......let's get serious about Powerlan ;o) Bonkers and the PWR followers have been using their bulls#it Fibonacci retracement levels to buy in all the way from 90c down to 9c...............so that doesn't work.
Just revisited the chart (and anyone who's bought in the last 2 years as an investment has lots of courage.....to put it nicely) and there is a definite head and shoulders pattern formed between late 99 and late 2000 with a neckline at 90c. This should provide a reliable guide..........
Now......using head and shoulders theory we subtract the neckline value from the top (3.15-90c) which gives us 2.25.................we then subtract this from the neckline to give a price target on the downside.
So.....0.90-2.25= negative $1.35. :o)
ED.
PWR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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