Manhattan Minerals (MAN.T) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Manhattan Minerals (MAN.T)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Not_Active who wrote (3012)	7/10/1999 9:16:00 PM
From: Claude Cormier	Read Replies (2) of 4504

Hello Kacy, Very interesting analysis. Indeed we are in a correction. But may I suggest that you may be missing an important support level in the $5.25-$5.50 area. It doesn't show on the chart as a support zone because we were breaking out of a good base just below $4. But this area above $5 is where most of the volume took place. The area is where the 50 EMA is at the moment and where most of the buyers got in during that breakout. The 50EMA is the strongest support zone in bull markets. The largest correction will never retrace much below it, otherwise you have a long term trend reversal. The $5.50 level is also a 50% retracement of the move from late March to the $8.50 high. As well, the $6.20 level is a 38.2% retracement of the same move. Corrections are often halted at one of these two numbers. Time will tell if any of these TA hypothesis make sense. One thing is sure, the TG-3 results to be released within the next 5-10 days will tell the story. ANd if the story is not good, we will possibly see $4 indeed.... until the next anomaly is drilled. Claude

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next