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Market Mads comments dated the 3rd of Septemberfrom atop 0.82, the outlook is bullish.If below 0.82 the pattern will be broken,On that basis, 0.82 is a Key LevelIn addition, there's something of a triple bottom in place.
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Date Posted: 7/09/03 5:29:29am
In reply to:
ERG Sells Motorola's Shares at 1.85--March 2001
's message, "ERG cyclical history 20/2/03 to the 8/8/03" on 1/09/03 10:08:22pm
ERG ... last close: 0.91
ERG is definitely NOT a stock to put the house on.Having said that, from atop 0.82, the outlook is bullish. Since June, higher lows have been the norm. That's bullish.If below 0.82 the pattern will be broken, but not until then.On that basis, 0.82 is a Key Level.It's not a profoundly important Key Level, but it is
a Key Level.In addition, there's something of a triple bottom in place.Indeed, there are 2 ways of seeing a triple bottom here.Either a] the Dec/Mar/Jun lows OR b] the Mar/Jun/Aug lows.No matter how the sandwich is cut, the story looks bullish.If you choose to buy, ideally, exit if below 0.82.In % terms that is not a tight exit strategy.Keep that in mind when deciding how much to buy.Keep your exposure to a minor amount.Given the visibility also, it is unwise to be too confident.
For that reason, I'm not including ERG in the recommendations.I posted this report only for those with an interest in ERG.In short, there is potential here, but that said ...ERG is not a stock that I would buy.I believe that the outlook for ERG is bullish, but ...In a nutshell, there are safer opportunities elsewhere.
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