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Following our report on May 7, 2011 – $18.60, Centerra Gold Inc. continued to trade in a large trading range between $14.50 and $19.50 (dashed lines). The long-term rising trend line (solid line) provided support during this corrective period and previous resistance provided support (shaded area). The recent rise to $22.20 (A) signalled the resumption of the long-term up-trend and a rise above $23 would confirm the breakout. Only a decline below $17.50-$18 would reverse the positive status.

Point & Figure measurements provide targets of $24 and $29.





Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. Ron Meisels is a contributor to the www.NA-marketletter.com website. They may hold shares in companies profiled. Please see the site for a glossary.

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Chart source: www.decisionplus.com

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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