Forum Archive Index - February 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Phaedrus,

> 
> Technically, the most important recent event with GPG is the
> break of the long-term trendline. This was a confirmed
> trendline that had held for 3 years. Price action failed to
> follow through from the recent medium-term trendline break,
> making this a losing trade. Failure was marked by (1) The
>  break of the longterm trendline, followed a few days later by
>  (2) Failure of the recent support at $1.51, followed a couple
>  of weeks later by (3) Failure of the recent support at $1.49.
>  Buying close to a major trendline and close to recent support
>  meant that this was a low risk trade, in that if it went
>  against you, losses were small.
>            

Much of GPGs activity is in the UK and there has been a large 
appreciation of the NZD/UKP exchange rate in recent weeks.

I wonder if you had considered your entry and exit points in terms of 
the UK share price of GPG, whether you would have come to the same 
'buy point'/ 'sell point' conclusions?

SNOOPY



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