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Gold/Mining/Energy : B2B stocks in Canada

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To: sPD who wrote (29)	12/29/1999 11:14:00 PM
From: sPD	Read Replies (1) of 115

Technical analysis of IFM's chart Today's article in the FP is accompanied by a technical analysis by Roman Franco that didn't make it to the web site. I can't reproduce the chart (1995-1999) here but here's a summary of Franco's analysis. "In October 1999, the MACD gave a healthy new MACD buy signal, confirming the beginning of a new bull phase. Price moved strongly to a new high of $77.95 last week. The MACD also hit new highs in the process, a sign that momentum continues to remain positive. Volume has been rising steadily, an indication that buying continues unabated. Given these bullish factors, it seems plausible for price to attain its upper channel line again. Depending on how quickly this was attained, a target from anywhere between $125 to $150 is possible. Only a sudden reversal to and through the lower channel line would negate this bullish scenario." [Note: IFM closed at $83.75, up $7.20 today]

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