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  1. AlphaCenturian

    10,543 Posts.
    If you have an interest in SRP or are considering it can I suggest a look at the Chart before you buy.

    Just completed an analysis using Fibonacci and here are the key dates.

    For the longterm trend the Fibonacci low dates to The low on the 28/12/98 of $4.89 and the absolute high of $8.38 on the 29/8/01.

    This produces a 61.8% retracement at $6.20 which was confirmed by a close spot on $6.20 on the 18/4/02 and then the dramatic gapping down collapse the next day.

    Those with charting software will find some interest in finding the 161.8% retracement produced by the date set I have identified which is located around $2.75.

    Run a new Fibonacci pattern from $2.75 to the old 100% support at $4.89 and you will find a new set of short term supports (no, you won't read about them anywhere - well I haven't anyway...)

    The shortterm 23.6% from this new set is located at $4.40, exactly the point SRP bounced off on the 4/12/02 to temporarily break back through $4.89.

    Tonight SRP is approaching $4.40 again. Below that the next short term supports are 38.2% at $4.07, 50% at $3.82, a possible bottom at 61.8% = $3.58 and a solid 161.8% longterm retracement support at $2.75

    Cheers all.

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