MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: SShuda who wrote (4524)	9/28/1999 10:00:00 AM
From: Bruce A. Thompson	of 4697

SShuda, I accept your comment in the spirit it is offered. To answer your question, I ask that you first go to the intra-day chart offered on this thread. Change the time to weekly and the chart to candlestick. What you will be looking at is a broken uptrend pattern. This pattern indicates that the stock will return to lower support levels. It should reach support around $11-$12 but if it breaches those #'s, it could go much lower. Possibly as low as $6-$8. If you want to get a good education in charting techniques, I suggest reading "Technical Analysis of the Financial Markets" by John J Murphy. It is not cheap. The textbook and the accompanying workbook will set you back about $100. It opened my eyes to a whole new world and has increased my % of right decisions to over 70%. It also helps me to recognize wrong decisions and cut losses much sooner than I ever did before studying the book. It is not an easy read. I would call it a 400 level textbook. To get the most out of it, take your time and use the workbook after each chapter. I sat at my computer and charted my own investments as I was working my way through the different techniques. Hope you are doing well, BT

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