NCM closed today (Thursday 8th May 2008) at $30.28
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This gold producer has recently completed a Double Head and Shoulders pattern.
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This gold producer has recently completed a Double Head and Shoulders pattern.
The Neckline was penetrated on the downside ten trading days ago.
The price is currently undergoing a Pullback to the Neckline. Many short sports will be excited by this occurrence as a Pullback at this point in the pattern’s formation is an ideal short sell signal.
The Measuring Formula (the vertical red lines) calls for a drop in price to about $20.55 over the next several days.
James Leo Donoghue
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