Pied: It somewhat depends on whether you're viewing the cup half full or half empty. Although the "right handled cup" is the way the IBD explains it, with tech stocks, I've found that it actually works both ways. (Probably due to volatility.) The cup patterns can actually be right or left. To prove it, look at the IBD charts highlighted in their "stocks to watch" section over time, and you'll find plenty of left handled cups.
In the case of Corel, as John pointed out, the big three Linux companies have all retreated over the past week, as well as MSFT.
As this trend reverses, so will the charts, and Corel has positioned itself for the greatest gain, a subjective observation that will prove itself technically correct as the share price rises.
Corel is the only one of the aforementioned companies in the green so far today.
Much Further Up,
Scott |
