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Thursday, November 16, 2006

WME - West Australian Met. (ASX)




Here is another Chart Chat small cap. special called West Australian Met (WME). WME has been consolidating now for 5 months having retraced from its sharp rally by 61.8% Fibonacci onto 200 DMA support. Rising lows finally produced a break of resistance with a nice pull back to give us a good entry on a break of $0.18. WME given the period of consolidation has a target of at least $0.26 - $0.28 and should be quite a quick move.