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Non-Tech : CompUSA (CPU)

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To: gmccon who wrote (619)7/3/1998 3:52:00 PM
From: epicure  Read Replies (2) of 3187
 
From a TA perspective CPU is going down near term. The stochastics are headed down from over 80% the fast has gone under the slow, RSI is headed down as is MACD, momentum has peaked. Looks to me like a head and shoulders might be forming (we just formed the head) the next shoulder will take the stock back to 17 1/2 or so. If this pattern forms we could see a violation of support at 16 which could take us down to support at approx. 13 1/2. If 13 gives next support is around 9. I don't think it will go that low, but I won't buy until the daily chart turns around. Right now looks like we've had a local top.
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