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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: TATRADER who wrote (10954)8/31/1999 2:21:00 PM
From: Bart Hoenes  Read Replies (1) of 59879
 
Is this in line with what you are expecting of CS?

(from wallstreetcity.com)
CS has traded as high as 17-3/4. but the stock currently stands at 16-15/16, down almost a point from its intraday high. Momentum traders have been very active in this issue, but many have now taken profits as evidenced by the drop-off shortly after a new high was reached.

Investors can expect the stock to continue consolidating over the next few days before resuming its uptrend. The Wilder RSI indicator (in the chart above) indicates the stock may be overvalued as well - the blue indicator line has breached the overbought line. Cabletron will likely base for several days, using the $15 range as support. Watch for a high volume positive day where the stock closes in the top half of its price bar as indication of the new upleg.

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