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[sharechat] ASC - update

From:	"andrew cottingham" <arco@adinfinitum.co.nz>
Date:	Sun, 23 Jun 2002 12:32:49 +1200

Gerry, as requested - ASC update.

Due to the indicators shown on the current chart, we could see lower prices next week. Several Scouting Parties were send out over the resistance line last week but were repelled, and the week finished off with Fridays 'Dark Cloud Cover' which is a bearish reversal pattern. The weekly chart shows a Shooting Star, which is also moderately bearish. I think the present 47 degree pitch is probably too steep to be maintained, and the share could fall back onto the old uptrend angle around 21 degrees. There is possible RH and tracking support around 36c, and the price is still well above the main EMA's also adding support.

CP20Asc.gif

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