GREY:HRIVF - Post by User
Comment by
ngobeon Aug 27, 2010 12:53pm
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Post# 17390113
RE: RE: RE: I'm out at .92
RE: RE: RE: I'm out at .92haztock, you responded:
"Might wanna check your technicals. 0.618 Fib retracement
kalls for a price of 0.84/shr before the next leg up."
Again, I am no technician but I believe you have made a mistake. The share price was averaging around 77-78 cents before the uptrend started and topped at 95 cents. Difference of about 17 cents.
17 x 0.681 = 11.58 or rounded to 12 cents
12 + 77 = 89 cents (or 90 cents if you take the base as 78 cents)
At 50% retracement which is a less likely at this point (but possible given market conditions and price of gold) we get a share price of about 86 cents (17/2 + 77).
These numbers are important as investors / traders look for entry points that can then move the price to the next level.
GLTA