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Gold/Mining/Energy : Alta Gold

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To: XOsDaWAY2GO who wrote (659)	9/7/1998 8:35:00 PM
From: Francois H. Gaston	Read Replies (1) of 749

From a Technical Analysis point of view, ALTA has been under significant distribution. But if you look at Relative Strength Index plot, you can see that the RSI made it's last low in mid July (oversold) while ALTA continued to depreciate throughout August... But if you follow the RSI, you will see that since mid July, it has risen, with higher highs and higher lows... It could mean a turn for the better for ALTA's share price... In the very short term, we could see a retraction because ALTA has risen a lot since it's 1.25 low... We could see a double bottom forming over a month, for most gold stocks... or not! Who knows... But it is common, after such a run up that we have 1 to a few days of retraction/stabilisation... before another leg up... If POG continues to firm up... many more players will buy ALTA and have a chance to get in... If POG dives.... bets are off... I have increased my ALTA's holding as well, this week... Good luck to all Gaston

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