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Technology Stocks : Wind River Systems - Technical Analysis
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To: contax who wrote (281)10/15/1999 12:30:00 AM
From: contax  Read Replies (2) of 431
 
Hello Greg,

Todays price action in WINd leads me to believe that it was
a prelude to a rapid acceleration in it's valuation.

According to Point and Figure charting system, WINd is
getting ready to assault the double top that has formed
at the $20 mark since the middle of September. Today, WINd
printed $19.75 on an intra-day basis. If it prints $20 on
an intra-day basis, it will have broken a double top and
the printing of $21 will be a break of a triple top.
An extremely bullish sign.

(The top is signified by the highest point of a column
of "X")

34 34
33 33
32 32
31 31
30 -* ------------------------------------------------------------------------30 -
29 * 29
28 * 28
27 * 27
26 * 26
25 -X --------* --------------------------------------------------------------25 -
24 3 O * 24
23 X O * * Top23
22 X O X * * 22
21 X O X O X * 21
20 -X O --------X --X O X O * ----------------------X --X --------------------20 -
19.5 X O X O X O X O X * X X O X O A X 19.5
19.0 X O --------X O X O X 6 X O * --* ----------X O X O X O X O X ------------19.0
18.5 X O X O O O X O X * X * X O X O X O X O X 18.5
18.0 X O --------X --------O X O X O X O * ------X O X O X O --O ---------- Med18.0
17.5 4 X O X O X O 7 O X * X O X O X * 17.5
17.0 --O --------X --------O --O --O X O X O * --9 O --O ------* --------------17.0
16.5 O X O X O X O * X * 16.5
16.0 --O --------X ----------------O --O X O 8 --X --------* ------------------16.0
15.5 O X X X O X O X O X * 15.5
15.0 --O X O X O X --------------------O X O X O X ----* ----------------------15.0
14.5 O X O X O X O X O O X * 14.5
14.0 --O X O X 5 ----------------------O ------O X * --------------------------14.0
13.5 O X O X O * 13.5
13.0 --O X O X --------------------------------* ------------------------------13.0
12.5 O X O X Bot12.5
12.0 --O X O ------------------------------------------------------------------12.0
11.5 O 11.5
11.0 --------------------------------------------------------------------------

Also if you look at this chart, it shows WINd in a "flag"
formation. Once a stock breaks out of this formation the
move is usually an explosive one.

If you look at a conventional chart of WINd dating back to
May of this year, you will notice that it has formed what
William O'Neil of Investor's Business Daily calls a "cup
and handle formation." He says that when a stock comes out
of this formation, the move is also very explosive.

All the above patterns that I have discussed, point to a
heavy accumulation of WINd's stock.

Now if we take into account all the recent bullish news
that has come out on WINd, then all these chart patterns
corrobarate it's strong fundamentals.

I believe that WINd is about to break out.

And the breakout confirmation will come when WINd prints
$21 on an intra-day basis.

I have a strong suspicion that it is about to do just that.

And if I am correct, then we are in for one hell of a joy ride...

Best of luck to all,

Regards,
Karim
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