Click on chart for larger imageTo see the forecast of 30th September 2008 for Transfield Services Ordinary (ASX:TSE) click on the following link to the appropriate Blog Archive.
http://donoghuecomputersystems.blogspot.com/2008/09/transfield-services-watch-out-below.html
TSE was then at $7.59 and the forecast was that it would drop to a minimum price of about $2.50, a drop of over $5.00.
As you can see from the latest chart above, TSE closed today Monday 1st December, 2008 at $1.24.
In the two months since my forecast this issue has dropped $6.35. That’s a drop of more than 83%.
The highest price TSE achieved during the formation of the Head portion of the H&S pattern was $16.32 on 30th October 2007. From that High to today’s Close this issue has suffered a decline of $15.08 – a massive 92% loss in value.
Note that the forecast drop from the Head and Shoulders pattern was a minimum target.
Good luck to one and all.
James Leo Donoghue
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