Re: Buy SLGLF, American Bulls
in response to
by
posted on
Mar 30, 2009 11:34AM
What I see in the technical charts,
Short term, on the daily chart, the (RSI) Relative Strength Indicator is reaching the over bought threshold so we could see some consolidation at this price level.
On the other hand, the weekly chart shows the (RSI) reaching only the neutral position. We could see the price consolidating here, building a base level which is just above the 20 day moving avg. before the share price moves higher.
Always expect desperate short sellers who are being squeezed with no room to make profits as share price moves higher to launch their attacks to try and drive the price back down so they aren't swiming in so much RED INK.
THE GRIM REAPER