Technical Analysis of Financial Markets

Tuesday, September 23, 2008

Trico Marine Services Inc. (TRMA)

Texas headquartered Trico Marine, oil & gas equipment and services provider to offshore drilling rigs has declined 170% within the last 6-month period in a probable 5-wave Elliott formation. With RSI and stochastics gaining strength, an entrance into a buy position with a stop on close below $16.16 may serve as low-risk trade towards an a-b-c price projection at the 38.2% Fibonacci extension level.

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