Forum Archive Index - July 2001

[Phaedrus <Phaedrus@techemail.com>]

< Not being an avid chart user yet, what would our chartist chums say of 
'support levels' on a smaller, less traded share such as this? >
  The chart of RNS attached below is a textbook example of Support and 
Resistance levels. Note the clear historical support for RNS at exactly 85 
cents, and the resistance at $1.35 or so.
   Most importantly, note how the Support level of 85 cents has become a 
Resistance level, since it has been penetrated. This well documented phenomenon 
is demonstrated here to perfection. I couldn't resist adding a couple of very 
interesting and useful trend lines! If this example does not convince you of 
the value of charts, you will never be convinced. 
< Committed as I am to ...... RNS > 
Andrew, my advice is never, ever, commit yourself to any stock.
< Is there support in the forum for this share?>
Don't worry about the forum - is there support in the market for this share?  
No, not yet - it is still heading South.
                            Phaedrus.


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