Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: horsegirl48 who wrote (26147)	7/28/2000 11:19:11 AM
From: donald sew	Read Replies (1) of 42787

Horsegirl, GE broke the LOWER TRENDLINE of the BEARISH FLAG which is also the UPWARD TRENDLINE from the JUNE LOWS around 48. It now becomes a resistance line and for today it is around 53-53.5 for today. Keep in mind that it is inclining. I do expect a bounce in the overall market by MONDAY and GE could retest that trendline. However, Im only talking about a bounce not a sustained rally, so that may be a better time to get out. The break of the bearish flag on GE implies that it can sell-off significantly more, but that doesnt mean that it will sell off immediately. One more down day possibly before a bounce. Maybe the bounce starts today, but for now Im more inclined on the MONDAY timeframe

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