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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: trustmanic who wrote (1754)11/3/2001 4:05:59 PM
From: bill  Read Replies (1) of 11633
 
George,
Looked at the chart plus price and volume figures. We
got a double top (closing price) for Nov. 1 and 2. The
volumeon the second was down and the number of trades
were down so the effect of the recommend may be over.

The chart itself is intersting. Slow stochastic shows
the stock is currently overbought, price has peaked and
likely will back. The MACD is cemented to the centre line
so whatever way it breaks will be an indication of trend.
I found the OBV most interesting of them all because in
spite of the precipitous drop in price from the 18.00
area, there was no corresponding drop in OBV. That means
people are hanging on or buying on dips. The stock has
been trading below its 20, 40 and 200 day average for
some time but has now broken above the 20 and 40. It
still is below its 200 day average. If it breaks through
there people who follow the charts will buy. But--and
as someone who admits to getting it wrong from time to
time--I'm betting on a pullback. If not, then I'll buy
more PWI or PFI.
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