re: has this been oversold? (chart) Evening gse1963,Yes I can...

re: has this been oversold? (chart) Evening gse1963,

Yes I can see on the weekly chart the channel you are referring to.
On the weekly chart the fib ranges I chose are different - I can now see that 31c is a very plausible target.
The stochastics are also rolled down and the rsi looks bearish.

It is interesting to note that in both cases the fib retracement is still the 38.2% level. The other point is there is still only a couple of cents disparity between the trendline level of support on the daily chart (33c) and the weekly channel lower trendline support (31c).
I have also recognised the fact that the last major retracement saw the price fall back to the 63.8% fib level (NOV 03) if you use the june 03 low and the August high.
Is this where you think that FEA will retrace to now – the 63.8% level??
If so the weekly channel would broken and I wouldn’t buy them anyway.

Hope I have not confused what you are trying to tell me, and I hope I make sense in this discussion.
Thanks heaps for your input, it certainly will be interesting to watch this one play out.

Regards

Commy