is leighton holdings nearing a buy folks?, page-12

A quick chart update. Both are d1 charts (every day is a candle) but the top chart I've just included to demonstrate where the trendline comes from: it links lows from 2004, 2005 and 2009. The 2009 low really ankers it and gives me confidence it will hold. The bottom chart shows that both RSI and Stoch's are oversold (with divergence). Normally I would have expected the share price to have turned around at ~$24 because of the perfect AB=CD pattern the price followed, but in this case it may have been the very presence of longterm trendline that drove price below the $24 mark. My bet is it will reverse in the target area (starting at $22 - red box). We'll soon know...





Cheers
Hans