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Re: [sharechat] SCL.NZ

From:	"David Renwick" <david.renwick@paradise.net.nz>
Date:	Tue, 6 Nov 2001 22:22:09 +1300

Hi James,

I too am new to the market from a techie view-point as I have previously traded "blind" or solely used fundamental analysis. I have only recently become aware of tech analysis (and the FREE ! MetaStock Java site which I really recommend) and believe that the only thing that moves the market apart from one-off-crisis events are investor sentiment derived from confidence.

Therefore read this with a grain of salt and I'd appreciate some constructive feed-back from you more experienced T.A.s please.

My green-horn amateurish tech opinion on SCL is this:

SCL has resistance @ $0.80.

I plotted MACD (and don't laugh at this) indicated a Buy @ $0.71 on 27th Sept like all other stocks and a Sell @ $0.93

on Aug15th. It doesn't look to be going anywhere right now.

So whats the news.

As for Bacon Lettuce & Tomato (BLT.NZ) SCL bought 10%,

Otago Uni 20% and Sthrn Diagnotics 10% recently then it had it's Strep/Staph? throat lozenge OK'd by Dept Health.

Unless there was some significantly good news I wouldn't buy.

I'm sorry that I can't provide a chart - I'll larn that.

Regards

David

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