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Strategies & Market Trends : ZITL, best stock for traders

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To: blast_investor who wrote ()	3/17/1997 12:31:00 AM
From: blast_investor	of 26

Dark Cloud Cover? It is not clear that Friday is Dark Cloud Cover pattern in candlestick TA. My reasoning below: one of three conditions for this pattern is that " the second day closes below the midpoint of white day (previous day)". The midpoint of Thursday is 33.8, while Friday close is also 33.8. so friday closes right at the middle point of previous day. I would not treat that as clear Dark Cloud Cover pattern, although caution is warranted here to see action days ahead. The candlestick does point a "bullish engulfing" at $28, which indicated a strong support at $28. This support can be clearly indentified by the huge volumn at that bottom price weeks ago. My point is: I do not see any clear dirrection in candlestick TA, however it does indicate that downside is limited with strong support at $28 - $30. Henry

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