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Strategies & Market Trends : Ask DrBob
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To: longdong_63 who wrote (40702)7/19/2001 12:05:10 PM
From: William   of 100058
 
I have been paying a lot of attention on this one too. It looks very clear that RFMD formed a descending triangle for the last month or so, with the horizontal line around 19. I thought it would break down. But two things happened: 1. The earning report is likely to put a floor around 19; 2. Too much volume on the last few days which is not typical for a triangle form.

Now I think two things shall happen near term : either an unusual upside break-out around 24+; Or drag along toward apex. The longer it drags, the less technical significance of that descending triangle, and hopefully a new shape will form.

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