The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (8495)	11/28/1997 11:40:00 AM
From: Doug R	Read Replies (1) of 79352

QUST: The Chart On Wed. QUST made a small but very significant move. The price broke out of all short-term downtrends to indicate that a move to new highs is probable. After a one year fun from 1/2 to 10, a quick base here has a good inverted head and shoulders formation with a relatively steep downtrending neckline. Downtrending necklines are more easily broken to the upside and as the line is approached, a strengthening technical profile would be very positive. The Technicals The stochastics momentum indicator is intermediate bullish with a breakout occurring in the short-term SMI. The 89 day MA/MLR is not a factor here so in order to assess a break-out from a short-term pattern as a sign of continuation I use short-term MA/MLR periods. The 8 day period is just now accomplishing a positive crossover. At every other time QUST made a continuation, this indicator crossed upward and the stock rallied for 30+%. The 3 day Bollinger Bands began to open up after being compressed early in the week. The stock is starting a move up so this is supportive of expectations that the price will maintain at higher levels at least into the short-term that the 3 day BB's project to. The 377 day CCI is above +100 which suggests that QUST is also a candidate for continuation into the intermediateterm time frame although I would remain cautious considering the magnitude of advance over the previous year. The 3 day CCI just crossed +100 on Wed. which it has done frequently upon every continuation of the price. The 55 and 34 day CCI's are likely moving over +100 today. Accumulation/distribution broke out of a long-term (5 yr.) downtrend in Oct. and has continued trending up as the stock has based out for the last month and a half. Accumulation distribution exhibits a solid uptrend. Positive/negative volume is also favorable. The long term RSI (233 day) has been above 50 and is slowly trending up for the entire year of QUST's move. Short and intermediate-term RSI's are all supportive of continuation. The 89, 3, 5 stochastics have produced a knee here at a value of 70. Knees in stochastics are very positive events. This is also a value where stochastics start to show strength in price. There is plenty of room to go higher before over-bought levels are reached which would occur if the stock moved well past 12. Other periods of stochastics show that a significant move is highly likely at this time. The technical profile of QUST indicates that continuation to new highs is probable with a significant and rapid advance likely. Buy at your OWN disgression. This report by DIS is just a place to begin DD in consideration of this stock. We do not make buy or sell recommendations and this report should not be so construed.

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