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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (84600)9/1/2000 6:21:30 PM
From: Night Writer  Read Replies (3) of 97611
 
Amateur TA time. No holds barred TA reading.

Position trading TA based on the daily chart. Today the
CPQ 4 DMA dropped slightly below the 9 DMA, and the MACD
line is under the MACD signal line. Stochastics continues
to remain above the 50 level. Due to the light volume,
strong Stochastics, and the fact that this is a Friday
before a three day holiday weekend I would not act on this
sell signal. (Also because of the long term TA covered
later.) The charts do indicate the possible start
of some basing if CPQ does not start moving up next week.
Without a move up CPQ could become a sell for short term
position traders. Short term position traders would look
to re-enter CPQ when CPQ shows signs of a break out from
this possible new base.

CPQ is no where close to giving a TA short selling signal.
The 4 DMA would have to fall below the 9 DMA on large
volume to start a down trend and generate a short signal.

Long term TA based on the weekly chart. For long term
investors Compaq's TA is excellent. It's 4 WMA (Week
Moving Average) is well above it's 9 WMA. Stochastics and
MACD are both very strong. The long term TA chart has been
and remains strong since the July 28 buy signal.

For ultra conservative long term investors. The CPQ
monthly chart just gave a buy signal. This long term buy
signal should generate some buying next week. This buying
should give a boost to the daily chart and prevent a strong
sell signal for position traders. This is another reason
smart position traders will not exit early next week.

Overall TA looks solid for the long term investor. Next
week will be key for position traders. Should CPQ start
basing position traders will start taking some profits.

NW
Compaq Daily Moving Average Price
date Closing Price 18 day 9 day 4 day
8/2/00 $28.0000 $27.66 $28.16 $28.11
8/3/00 $28.8750 $27.82 $28.29 $28.33
8/4/00 $29.0000 $28.01 $28.52 $28.58
8/7/00 $29.9375 $28.19 $28.70 $28.95
8/8/00 $31.0000 $28.41 $28.90 $29.70
8/9/00 $31.3125 $28.61 $29.17 $30.31
8/10/00 $31.6250 $28.83 $29.58 $30.97
8/11/00 $31.6250 $29.01 $29.98 $31.39
8/14/00 $32.1250 $29.27 $30.39 $31.67
8/15/00 $31.9375 $29.49 $30.83 $31.83
8/16/00 $32.6250 $29.77 $31.24 $32.08
8/17/00 $32.8750 $30.10 $31.67 $32.39
8/18/00 $33.1250 $30.37 $32.03 $32.64
8/21/00 $33.1875 $30.59 $32.27 $32.95
8/22/00 $34.0000 $30.87 $32.57 $33.30
8/23/00 $33.6250 $31.18 $32.79 $33.48
8/24/00 $33.7500 $31.50 $33.03 $33.64
8/25/00 $33.8750 $31.81 $33.22 $33.81
8/28/00 $34.6250 $32.17 $33.52 $33.97
8/29/00 $34.0625 $32.46 $33.68 $34.08
8/30/00 $33.2500 $32.70 $33.72 $33.95
8/31/00 $34.0625 $32.93 $33.83 $34.00
9/1/00 $33.8125 $33.08 $33.90 $33.80
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