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Re: Mattylite post# 1464

Sunday, 06/09/2013 10:18:51 PM

Sunday, June 09, 2013 10:18:51 PM

Post# of 4451
The 50 and 100 day moving averages are around the $39~40 dollar range, and moving up. Since this took off in the beginning of 2012, the price has only dipped below those lines twice, and we just got done with one of those periods. The 200 day moving average is at $34 and moving up. It proved to be rock bottom support during this last fall.

In the short term, it looks like we could dip a bit. I think $40, or low 40s, is a realistic target for entry. If the market really takes a dump, I think rock bottom would probably be $35~36. That's been an area of resistance in the past and it should serve as support now. But, it's also possible that this $44~50 channel we're in now will hold up. Time will tell...

And I agree with adeezl. I doubt we'll ever see low 30s again and 60 seems quite doable down the line.

Good luck!
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