PRI Automation (PRIA) Message Board

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Technology Stocks : PRI Automation (PRIA)

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To: Proud_Infidel who wrote (815)	10/27/1999 12:45:00 PM
From: Warpfactor	Read Replies (1) of 1214

TA - Symmetrical Triangle Pattern? Does anyone still own this stock? Not much discussion lately. Over the past five weeks PRIA stock has traded in a progressively tighter range on progressively lower volume. Look at a 3-month chart: Its not an "Ascending Triangle", which would have a level top. My TA reference describes this as a "Symmetrical Triangle". PRIA will very shortly break out of this formation to the upside or downside. Until it actually begins to break, we don't really know which way it will go. The text "Technical Analysis of Stock Trends", states: "Prices may move out of a Symmetrical Triangle either up or down. There is seldom, if ever, any clue to direction until the move has actually started, i.e., until prices have broken out of their triangular "area of doubt" in decisive fashion". The text goes on to state that a 3% move beyond the pattern line will confirm a break of the pattern. An upside break must be accompanied by an increase in trading volume to be trusted, but a downside break does not require volume confirmation. Any comments or other interpretations? Warp

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