Hank, only have time for my favorite of the three, that is YHOO...
Take a look at the peaks with your relative strength indicator...
12-29-97 stock at 69.00---RS reading of 73.1807
1-15-98 stock at 68.25---RS reading of 58.5976
This shows the trader that strength is waning as we near 70, or a topping action....Again, simple stochastic, check out 1-2-98 price at 69.50---Stochastic at 85, then 1-15-98---Stock at 66.75- stochastic at 58....Again this shows the trader the buying power is weakening....
Envelope channel is displaying trading range from 59.60-65.87.....
There is some good support at 64.50-65.00, but if we break, I have first stop pegged at 60.00, then 54.50-56.00, then 52.50......Volume has been tapering off the past 3 days to 151,610, compared to 5 day at 204,730.....I presently do not have a position in any of these three stocks but am watching them...
Regards, Mark
P.S. CTXS is in a rectangle pattern....Namely a trading range for now...These patterns are good to trade only on the the top or bottom of the pattern, not in the middle......Bollinger Bands give a trading range of 72.40-82.17....However, I see the pattern at 65-80.....If we break the 65.00 area, you have some good downside, about 11 points... |
