Public Bank Bhd - how low is the low ?

Public Bank's weekly chart

I am not very well verse with catching lows and bottoms. I have always been a breakout guy i.e. I only buy or sell when there is a breakout above or below a certain place (eg. BBand bottom or top/ moving average channels etc) But I have been trying to learn a bit and practice on this art of gauging where are the bottoms. Those of my mates who are into cycles studies are just increadible on this art.

Since many of my friends are ardent fans of Public Bank , so I try to apply what I have learnt realtime: by applying Fibonacci Retracement Ratio, the 75% retracement level will be found at 6.90 which is pretty close to its last peak at 6.82 on 18/2/05. Since these 2 levels are close to each others, I would pay closer attention to them as a major support. If that level fails to support the selling, then the next supports should be at 6.72, 6.38 and 5.76. Since I assume only God knows where the actual low will be, so I can only suggest to you to watch the Oscillators like RSI or Stochastic get really low (i.e. <20) then decide whether you want to try your luck to buy near those levels mentioned.

The last 3 levels are only good for the coming week. By next Friday , I would need to recalculate for the following support levels. Appended above is the stock's weekly chart where you would also notice a a clear bearish divergence with the MACD which is a classic sign that this stock is about to take a great tumble and you should NOT chase this stock after June 2008.