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Jay, I sat tight today with EGHT....When the bid moves to 16.00, we are off to the races....Since the stock did a 180 today, I feel the potential for a takeout of 16.00 is coming, and if it happens, I anticipate a rise of at least 3 points....In other words I am looking for a run to 19.85 if we can clear the 16.00 barrier....Remember the rectangle pattern was from 9-12, a 3.00 pattern, take 2.618 x 3, and add that amount to 12.00 to get my first target....If there is someone on this thread who understands the impact of those shares released this week, please educate me....I am not sure from a technical viewpoint, what that means...Does a mutual fund, hungry for a good buy, just gobble them up??? In other words, will there be no negative impact on share price if the buyers are aware of this companies potential???? Someone help me here....Mark |
