To: Money Mood who wrote (5707 ) 11/9/1997 8:37:00 PM From: richard p. martino Read Replies (3) | Respond to
Victor ,However , watch out when you break through. It's a very bullish indicator. We've had some minor breakthroughs in the past 2 weeks, indicating some strong support at these levels. We can expect the same thing when TPRO reaches 7 13/16, the historical high. Initially, there could be a pullback caused by sellers who know there is historical resistance at that price. Again , watch out when we break through 7 13/16 and stay there for a couple of days. Basically, this indicates that investor sentiment is so strong that no one wants to sell even at a historical resistance level. There is more liklehood of this reistance breaking down after it is tested several times (been tested twice so far with TPRO). Once it breaks through 7 13/16, it's anybody's guess where the new near-term resistance level will form. My guess is somewhere around 9 or 10, but it depends on how good the news is at the time (could be 12!).
