Prosoft Software (POSO) Message Board

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Strategies & Market Trends : Prosoft Software (POSO)

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To: JERRY GACH who wrote (30)	5/6/1998 7:54:00 PM
From: Mike Medford	Read Replies (3) of 90

Jerry, The price is trading just above the 61.8% retracement of the last down leg from 9.5 that started in Feb. and ended in April at 3.5. The long term trend is still down and this retracement zone is one that normally offers stiff resistance. I don't think it will be broken unless something fundamental breaks. If this resistance area is broken, then 9.5 will be the next resistance point. That being said, I cashed in today. If the price does begin to sell off 6.25 will be the first support point. I'll keep watching. Good luck, Mike

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