Forum Archive Index - February 2003

["michael gore" <michgore@paradise.net.nz>]

Thankyou Phaedrus,

Michael

-----Original Message-----
From: sharechat-owner@sharechat.co.nz
[mailto:sharechat-owner@sharechat.co.nz]On Behalf Of Phaedrus
Sent: Monday, February 24, 2003 1:50 PM
To: Sharechat@sharechat.co.nz
Subject: [sharechat] GPG Chart Update


Michael,
        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.
             Regards,
                      Phaedrus.

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