NDAQ:TRGL - Post Discussion
Post by
carlos6 on Dec 07, 2009 1:16pm
rebound
Although the SP has bearly broken above 2008's highs recently it has fallen back (lack of news) & is now in the process of a 2nd test of the uptrend from Mar./09. The first was successful with the SP not breaking below the
200 day avg. The 2nd test has not broken the 85 day & not even close to the 200 day; so this latest move looks
more forceful, but $10.74 the 1/3 retracement level is the next hurdle besides the $10.25 previous high.
Historically.....2008 was all about trying to rebound from the precipitous drop from 2007 highs. The failed rebound was evidenced by a triple top & the SP breaking below 50, 85, 200 day avgs. in quick succession.
If we can get above or close to the 1/3 retracement level when the NR comes we could see $15.05 (1/2 retracement level) quickly.
here's hoping.
carlos
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