Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: Doug R who wrote (22)	5/25/1997 6:41:00 PM
From: HeyRainier	of 257

Doug, welcome to the thread. I've taken a look at ABM, and its fundamentals look healthy. The chart is also forming an ascending triangle, but in my opinion, it is fairly priced. Its projected growth rate for the next 7 quarters is about 16.6%, while its p/e at Friday's close is in the mid 18's. What I'm wondering about is if the market will be willing to raise ABM's premium above its current levels, despite its future growth rate being already accounted for in its price. The best stocks to trade are those with bullish chart patterns, strong fundamentals, and an undervalued stock price. That way, success is determined by T.A. and F.A, instead of The Greater Fool Theory, where one's success relies on somebody bidding up the price beyond what its fundamentals dictate(nothing implied). Again, welcome to the thread. We are all looking forward to hearing more of your suggestions. Regards, Rainier Trinidad

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