Hi Ridge,for your sake and everyone else holding I trust things...

Hi Ridge,

for your sake and everyone else holding I trust things are going well.

I hope the attached chart may be of some interest again. Key features to note are the falling resistance line and the red line which is the Accumulation Index.

I acknowledge that there may well be a surprise just around the corner but if history on this stock is worth anything then developments of downward declines in this indicator have run for extended periods and generally produced substantial falls.

Sorry guys but there is no point looking at these charts, seeing this stuff and not posting it. I would be very happy to be wrong on this occassion as I know many on here are sitting on mountains of the stock.

Re the recovery from $1 recently - whilst great if you bought on the fall it hardly means much to anyone that might have bought on posts such as this one from August last year.

Subject Making a move
Posted 20/08/02 11:38 - 2 reads
Posted by Ridge
Post #33675 - start of thread

G'day folks,

What was it I was saying yesterday about some good news to come from the US. The news is still to come but the stock has started to move.

Close on that day was $1.80


What has followed since then is confirmation of a series of lower highs and lower lows.

The best case I can make is that just maybe the crossing of the falling resistance with the long term support at $1.50 will indicate timing for a breakout which would seem to need to be in the next two months. This would be indicated by a break above the falling resistance. I don't think stating the alternative possibility is required.

Overall the takehome seems to be - if you aren't in already then I would be waiting for confirmation of a breakout, even if it costs a few cents.