LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: Susan Saline who wrote (15693)	6/16/1999 8:33:00 PM
From: LastShadow	Read Replies (1) of 43080

DRIV There isa big difference between a trendline and an upper resistance, and although I know Sue realizes the difference I'd like to qualify it for some novice lurkers. The upper resistance for DRIV is 30, as defined by the ceiling it banged off of on 6/8 and 6/9. The trendline, however, is created by drawing a straight line from the high on 4/19 through the high of 6/9. Extending that line through tomorrow says the a trend breakout occurs if the price goes above 26.25 (preferably closes above it). Drawing a parallel line below the lows across the same period gives the trading channel. I have posted a chart on DRIV at home.earthlink.net for illustrative purposes. My point is that although most of the stocks moved up today, and most have some room to move more, all were within their trading channels and are still technically downtrending. The stocks I post to the watch list are in uptrends or breakouts. hmmm...looks like I lost my cool hover buttons on the website - guiess I need to do some maintenance this weekend. lastshadow

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