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Non-Tech : ENR trading on AMEX. ( Envirotest)
ENR 20.21-0.3%Dec 29 3:59 PM EST
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To: Batgirl who wrote (41)7/28/1998 12:47:00 AM
From: High Grader  Read Replies (2) of 62
 
Very often when a stock breaks a trend line, that line will then become a resistance line. The stock often moves back up to try to penetrate the former trend line but selling at the old support line by people who jump at a second chance to bail out, forces it down each time.
If I have the wave count correct then the correction we see should return to the wave 4 level of the previous wave, which is around the 15 level. This would be a minimum target.

Check the fibonacci levels on the chart they will give you quite good ideas where the support should show up.
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