TSXV:BER.H - Post by User
Post by
Cartman666on Oct 13, 2010 4:23pm
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Post# 17560526
Price action...
Price action...It's difficult to pin much technical analysis on stocks like this with low volume, but nonetheless, we saw a 57% retracement off the recent high, which is usually enough to satisfy most traders who watch the levels. The brief dip down to the low $.70s was short lived and spurred on buying to push it back up to $1.00. It's nice to see that bids aren't getting hammered as soon as they appear. On the other hand, the few days of aggressive buying seem to be short lived as well. There's nothing wrong with a tightly held stock. I will hold my core position accumulated in the mid $.90s and will buy any dip in the low $.70s if it gets there again... If the retracement is complete, then I would anticipate a rally back to over $1.10, possibly touching a new high, then some consolidation around $.90 - $1.00.
Of course, if 'leaks' start to get out ahead of the drill results, then we know what will happen..
Good luck everyone,
C