Sunday, January 3, 2010

GMCR

Overbought (daily RSI at 80 and weekly at 70). An excellent short at 84-85!!! Targets- 23.6 and 38.2 Fibonacci retracement levels of the recent up move from 60.

23.6 retracement level- 77.97
38.2 retracement level- 74.44

My entry and exit targets:

Entry target- 84
Exit target- 77.97

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