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Gold/Mining/Energy : Rocca Resources
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To: Stew who wrote (42)2/23/2000 6:32:00 PM
From: Tony from Niagara  Read Replies (1) of 48
 
I previously posted my guesses of the action of RRL upon resumption of trading at:

Message 12926039

I neglected to mention the downside.

IMHO the following targets should also be considered:

Fibonacci (based upon the rise from 99-08-06 ($.07) to 00-01-06 ($2.90) - $1.15 and $1.50

Rising lower trendline (on 00-02-24) $1.38

Rising Andrew's Pitchfork (on 00-02-24) $1.30

Raff regression channel (on 00-02-24) $1.04

Gentler rising lower trendline (defined by the lows of 99-08-06 and 99-09-10 - and on 00-02-24) $.94

With the possible exception of the last item, a decline to any of these values would not violate the basic upward trend since August, 1999

It is interesting to note that the Raff regression channel which I use is defined by 99-08-06 and 99-11-17, that it includes all of the price action up to now, and that it is roughly parallel to the trendlines and the pitchfork.

Regards,

Tony
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