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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: JPR who wrote (1100)1/17/1998 9:41:00 AM
From: ted birnbaum  Read Replies (2) of 1589
 
Paul, I looked at dell on the following intervals:
10 min, 30 min, 60 min, daily, weekly here is what I see:

on the 10 min I see bullish tipical of the close for a momentum
stock like dell.

On 30 min i see a basing pattern terminated by a star but having
no real meaning.

On the 60 min same thing , the stock has not decided to move up
or move down, often in this situation i go with the overall
trend for the stock as the possible direction.

The daily shows some near term weakness , possibly a correction of
the recent gains back down to 89 would be my guess.

The weekly shows a rejection of the down trend and a powerfull
bullish engulfing candle was made last week.

In all my GUESS would be that dell will trade sidways with a bias
to down for the next few days, then move up to test 100 again.
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