AI
Sunday, November 13, 2005 12:43:56 AM
RNAI Fib Study Concordance
don't know if it means squat but very interesting
RNAI had a nice run in July and has settled into an oscillating horizontal continuation pattern. The retrace from the July high was a near perfect 62% retrace to a now doubly supported support level in the underlined 3.10 area.
The last retrace from late September highs has seen a rise to near perfect fib 38% bounce in the 3.80 area. This area was confirmed as support by tri-tip tweezer bottoms lat in August. A break of this now resistance area should carry the share price to the 4.10-4.18 area.
RSI, stochastics, and the aroon crossover confirm the uptrend. Due your due diligence.This is purely a chart study.
don't know if it means squat but very interesting
RunDates Low High 38% 50% 63%
7/06-7/26 run 1.60 5.60 3.12 3.60 4.65
8/17-9/7 run 3.07 5.32 3.80 4.18 4.44
9/29-10/24 retrce 3.12 5.10 3.86 4.10 4.34
RNAI had a nice run in July and has settled into an oscillating horizontal continuation pattern. The retrace from the July high was a near perfect 62% retrace to a now doubly supported support level in the underlined 3.10 area.
The last retrace from late September highs has seen a rise to near perfect fib 38% bounce in the 3.80 area. This area was confirmed as support by tri-tip tweezer bottoms lat in August. A break of this now resistance area should carry the share price to the 4.10-4.18 area.
RSI, stochastics, and the aroon crossover confirm the uptrend. Due your due diligence.This is purely a chart study.
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