Tuesday, September 11, 2007 5:50:26 PM
Three bounces off the lower triangle support line is pretty common before the break out comes but this one was running out of room. Today however with all seeing the same situation. buyers stepped up and bought creating good volume.
The move back above the 50-day is the first since the drop in early July so the two month correction from there is over. You see there is some resistance at $3.90 but this IMO will start the bigger move as many things are taking shape and this trend line/ triangle break out confirms that the buyers agree.
The seminar for E.ON,the largest German utility company will be on September 18 and we expect to see earnings filing this month as well. The first time the stock got to this level in April it took only 11 days to get to $10. It is really much better for the chart to not run quite so fast but we are for sure back on the road to much higher prices.
I am a consultant for NNRF, Inc and own personal shares
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