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Bullboard - Stock Discussion Forum Mart Resources Inc MAUXF

OTCPK:MAUXF - Post Discussion

Mart Resources Inc > re: trendline broke? by fracpac
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Post by carlos6 on Oct 26, 2012 4:04pm

re: trendline broke? by fracpac

The 1st major  trendline bottom channel is @ $1.34.

The 2nd major  trendline bottom channel is @$1.54

We are nowhere near either.

The only trendline broken is a line across 2 lower intermediate tops/peaks; the first was on Sept. 10($1.57) & the second was on Oct. 2 ($1.68)  &  then extrapolating that line past today's trade date AND yes the price  does cross below/thru that line, but I doubt the significance, because these 2 intermediate peaks are sandwiched between 2 higher peaks. These 2 intermediate peaks have been superceded by a 11%+ rally to date.

Possibly profit taking after the recent  run up. Don't forget we are only a NR away from a breakout.

I think (fracpac) that your system was using Technical indicators  to say sell rather than a trendline violation.

ON THE OTHERHAND The technical indicators tell another story. Most (rsi, MACD, CCI, Stoch.) have peaked or have given a short term sell signal.

Until these indicators show oversold we could get to $1.60 I guess, but I doubt it.

carlos

Comment by radcat on Oct 26, 2012 4:07pm
What do the Tara Cards say about a $1.82 close?  Pity the suckers that sold at $1.72.
Comment by Gulo19 on Oct 26, 2012 8:00pm
r-cat I don't know what the "Tara Cards" say, but I do know that the Tarot Cards say $1.82 is much less that the SP will be after the Shell Pipeline agreement is announced and the U10 flow results are released ...  
Comment by hangemhigh4 on Oct 26, 2012 8:10pm
Have to agree with you there.  2 bucks will come sooner then some think. imo
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