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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who started this subject9/25/2000 12:44:30 AM
From: TraderMERL  Read Replies (1) of 100058
 
DrBob: IMPORTANT Question on Trendlines
On the MSFT chart, if you start from the peak at 120 Last November and draw a line thru to 69 u can actually get
a decent resistance trendline with a convincing break in mid-March when the stock went to 112. Now if you construct a horizontal line at about 60 you get a support trendline.
The two lines give u an ascending triangle. So is the diagnosis of triangle valid given that there was a convincing break of the trendline in March?
The second question is along the same lines. Is a trend-line that connects 5 points but has a big break through less valid than a trendline having only two points but no break thru? I am thinking of the compx chart here
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