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georgie18

09/10/12 8:01 PM

#9072 RE: prof #9069

Target .018 range...2 yr chart shows a cup n handle breakout building....A/D line...CMF..tell the story here..

March 2011 shows the uptrend beginning... .01 begins the left side of the cup and the resistance neckline....the drop to .0015 provides the bottom of the cup...the rise to .0098 is the right side of the cup and completes the resistance neckline...the drop from .0098 to .0042 is the left side of the handle and now the right side of the handle is forming...this pattern can still fail...confirmation of the pattern will be the break and hold of resistance neckline which has a slight downward slope from the .01 on the left side to the .0098 on the right side...to reach the target point we subtract the bottom of the cup .0015 from the neckline.01..then we add the difference .0085 to the value of the neckline .01...making the target .0185...

2 yr chart...



6 month chart...macd is starting to curl up and ready to crossover..good suport from 100ma/200ma just needs a more buying pressure to break/hold the 50ma....