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Strategies & Market Trends : The Rational Analyst
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To: The Perfect Hedge who wrote (286)2/1/1998 10:00:00 PM
From: HeyRainier   of 1720
 
[ CKR ]

Glen, while that last candle is quite interesting, the chart pattern itself has not yet formed a Bull Trap. A Bull Trap would occur if the following happened:

1) The stock breaks out to new highs (after supposedly triggering all the buy stops at $45.375)
2) Lingers there...
3) And fails to stay at these new highs and breaks down below the new support level.

But the current levels certainly make for an interesting Resistance Trade.

Regards,

Rainier
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