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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: j g cordes who wrote (29794)2/12/2002 2:30:50 PM
From: sean sanders  Read Replies (2) of 52237
 
jg,

He's probably suggesting ibm is near the top of a symm or a asc triangle.

I put up the chart to take a look at it; personally it looks like its a symm tri but I think it could turn into a asc triangle.

1. Perhpas if its a symm tri it is forming at the 50% mark of its move and will move down again to the ~92 range.
2. If it turns into a asc triangle (doesnt quite fit the picture now but who knows what the investors have in mind); I would say it would jump up to the 112 range again.
3. I also see a dbl bottom there; so perhaps its actually a dbl bottom; and the resistance again looks to be at the ~112 range.

I wouldnt know how to play this one exactly; today we have a smaller white candle with somewhat lower volume. So we are either petering out a bit and will head back down again ie continue to form the symm tri or we are waiting for bust move to take us lower or higher depending on what type or triangle ti is. Or dbl bottom for that matter.

just my opinion thou

Sean
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