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[sharechat] NZSE40 looking positive after today's strong run.

From:	"Peter" <pmaiden@xtra.co.nz>
Date:	Tue, 20 Nov 2001 18:42:04 +1300

Refer the bottom chart of Phaedrus's post

http://www.sharechat.co.nz/archives/current/msg00471.shtml

The closing of the NZSE40 at 2046 today was a very positive sign. Even more so because the 2046 was close to the days high as well.

The NZSE40 has now well and truely broken through the resistance at 2020 / 2025. This now becomes support for the future.

Next resistance is at 2086/2090 odd - the other line on the chart. Should it break through that resistance the NZSE40 is into (recent) uncharted territory and anything is possible.

What do you think will happen from here.?

Will the NZSE40 continue the uptrend that Phaedrus drew? Or will it now trade within the 2020 / 2090 range it did from May thru September?

Love to hear your thoughts.

A really positive day on the market today. Some 76 advances and and only 35 declines should keep most of us happy.

Cheers

Peter

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Re: [sharechat] NZSE40 looking positive after today's strong run. Nick Kearney

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