SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Tseng shootup in the near future?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Cameron3/4/1996 10:14:00 PM
   of 54
 
OK, Jim, When I wrote "TSNG 15 target possible, Accumulation picking
up, but depends upon STRONG supply exhausting first." Take a look at
a one year chart showing price and volume. You will notice that every
time the price goes up to about 11, it is met with enough supply
(ready and willing sellers) to quench the demand. This is evident
from the volume at those times. Connect a line accross the tops of
the pattern since last july and you have a "supply" line.

Now connect a line through the bottoms of this pattern (demand side)
and you will notice the convergence of the two. Well, the bible on
technical analysis of stock trends (book by that name...check it out)
says that should the supply exhaust (meaning whomsoever is selling
at 11 runs out of shares to sell) before the lines meet (and sooner
the better now), then the price will very likely shoot well beyond
the supply line (if not enough supply to quench demand). Got it?

There are catches...this does not always happen. The odds are reduced
the further out to the apex the pattern works. Read the book for more
if you are interested. Which is why I added "If supply holds thru
April, I would abandon any prospect of substantial gain."

"I am thinking of going long closer to lower demand line." means I
just may, if I simply cannot find something better to pursue, buy
TSNG (go "long") at something closer to 9 than 11 if you look at the
demand (lower line of pattern).

Cameron
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News