Rentech(RTK) - gas-to-liquids and cleaner fuel Message Board

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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel

RTK 0.200

+5.3%

Oct 13 5:00 PM EST

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To: John S. Baker who wrote (8625)	9/15/1998 9:49:00 AM
From: John S. Baker	Read Replies (1) of 14347

Recognizing that technical analysis is essentially useless in a news-driven stock ... but being quite bored whilst awaiting that news ... I trotted out a neat chart: bigcharts.com Call it up. Print it out. Draw a downward-sloping line to connect the highest daily highs since August 1st. Draw an upward sloping line to connect the lowest daily lows since September 1st. That forms an isosceles triangle narrowing to the right. Now go to the lower chart and draw a similar (down-sloping) line across the volume tops since mid-August. To a chart reader, the implication is that something is about to happen. Demand and supply are reaching a conflict point. When demand and supply meet, the chances of a significant diversion ... either up or down ... are quite high. (From the info so far, the technical analysis does not really tell us which; it's ambiguous thus far.) But now we go to an accumulation chart (I use MFI) and it shows a transition from distribution to accumulation occurred about mid-August. This suggests that the breakout, when it comes, will be upward rather than downward. But of course, you all knew that anyway. Isn't boredom a terrible thing! JSb.

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