TGS 22.10.2007

Since mid-September when the stock price touched the upper resistance line for the falling trend channel, the stock price has fallen towards the lower support line in the falling trend channel. There is now a possibility for upward movement in the stock price. The potential for the moment is up to about 114 NOK. But before there can be any movement upwards there need to be a rise in the RSI. There is good support at about 26-27 and hopefully this support will still hold. Overall the stock gives negative indications and we can expect a fall to about 83 NOK the coming days before a rise. But as said before the support at 26-27 for RSI seems strong and if RSI moves down to this level a bounce upwards can occur. There is however some positive signals to spot and that is that the volume is falling meaning the "panic" selling seems to be over for this time. Maybe it is time for accumulation soon?