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Strategies & Market Trends : Charts for Bottom Breakout

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To: Dr. John M. de Castro who wrote (2556)	6/17/1999 1:27:00 PM
From: Ed Huang	Read Replies (2) of 3105

Welcome to the boat Doc. Mr. Mike McFarland of our thread seems to be doing the opposite _ to transform himself from a TAer to a FAer. I asked him why but he did not answer. Anyway, I understand your situation and like your approach of combining FA with TA. My favorite quote is, "Know the fundamental and trade the technical". A technician may also want to look at the news and FA stories at times to see how the price reacts, so to help their chart studies. TA approach can often be independent as well. Good momentum traders, for example, can trade according to the price patterns and volume, in and out of the market in a short period of time and make nice gain without knowing the stock fundamental. PARS chart looks good overall. I'm not sure it will start an uptrend right away, but right now it's trading near the support of 1 5/16, with resistance at around 1 1/2. If it can break through 1 1/2 on good volume, more up move will be likely. But if it break 1 5/16 support, it could test the 1 1/8 support again. This chart is worth to follow, IMO. Good trading.

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