Jimbo's Playhouse/CPQ Message Board

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Technology Stocks : Jimbo's Playhouse/CPQ

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To: Night Writer who wrote (2904)	7/12/1999 6:35:00 PM
From: Kenya AA	Read Replies (1) of 12662

Hi NW: It's a common basing pattern. This is a textbook definition: chartpattern.com I'm not nearly as strict with my interpretation, though - certainly more flexible with the time periods for the formation, etc. Generally they are formed when a stock reaches a point of resistance and then pulls back and forms a curved bowl shaped base (the real shallow ones are called saucers). As the stock comes back to that resistance point, often a shake out period occurs (the downward sloping handle) before the stock resumes its uptrend. IMO, the stock should be bought when the inflection point occurs at the end of the handle, not at the top of the handle. At any rate,I see PFE's cup forming from the 2nd week of June to the beginning of July and, so far, July is the handle (also serves to fill that gap around 7/2). Question is - How far down will the handle go? K

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