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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Electric who wrote (9398)6/3/1998 1:13:00 PM
From: Chris   of 42787
 
i had a question via email on "how did i know where are the resistnace points are?"

well, open the dell chart.

if you look at the rally from 4/20/98 to 5/13/98,

notice you had a high 4/22/98 at 80.. then you see a retrace/pullback. that's how i got my 80 support.

notice you had a high 5/6/98 at 89.43. that's our next resistance @ 90.

notice you had a low 5/8/98 at 85.4. that's how i got the resistance @ 85.xxx.

these levels are also confirmed with FIB levels. to draw the fibonnachi retrace levels, i used pivots at low of 4/7/98 to high of 5/13/98.. those levels are confirmed.

so in summary, the levels are : 80, 85, 90, old highs.

with my paper trade, i knew 85 would be next resistance.. so i put a sell lmit order right under 85. i made $2K without panicking.. the order were all hit automatically.

hope it helps.
the key is always know where your supports/resistance levels are.
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