Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 492.06

+0.2%

3:59 PM EST

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To: Connor26 who wrote (24028)	1/10/2003 1:56:46 AM
From: Susan G	Read Replies (2) of 26752

the beast...On of the most beautiful cup and handle breakouts I've seen in ages - and it's on the weekly chart. Took ages to form (as they should), and it's just starting to breakout. Could easily fail, but a cup and handle is a continuation pattern, meaning if it goes, it could be a good move. And this chart is a beautiful example of the pattern! I know you don't want to see this chart since you missed "the" bottom, but if it might be going higher, based on a longer term time frame you may be able to profit from a part of the move. It filled a long term gap too. So now we have to watch for more of a breakout, on rising volume, or a good rally - to go long a scalp or the less riskier swing trade would be to buy the pullback to the breakout line - if it holds on a retest. If the breakout was successful, (and the nas doesn't tank) it could easily test that 20 resistance area. Strong resistance there from trapped longs, the last top and the backside of the descending triangle that broke down. stockcharts.com[s8987074]&disp=G

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