Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

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To: bobby is sleepless in seattle who wrote (180)	12/10/2000 1:02:06 AM
From: Susan G	Read Replies (3) of 5732

Thoughts on BEAS.... Weekly chart: home.earthlink.net Looks like a lopsided cup and handle, with Friday being the possible move up from the bottom of the handle. ADX is in the undecided zone, where all lines are consolidating close together but the +DI is turning up and about to cross the -DI. Hopefully the ADX will turn up with it, but it's a slower signal. Stochastic coming out of oversold - with strength, and the MACD looks about to cross heading upwards. Volume has been steadily increasing lately and momentum is turning up. Daily Chart: home.earthlink.net Looks like an inverse head and shoulders pattern, with a close Friday night right on the neckline - a caution sign in candlesticks. It needs to hold this area or it will probably dip to create a right shoulder. The candlestick itself is bullish, and it took out Wednesday's high by 1/4 pt, but it's at an important test now IMO. The next test after that would be a break of 84 1/8, the high of early November which was the lower high formed when it failed to test the top of October. So now it's about to test the high again of last January, and hopefully the all time high set in October. Market willing of course... If it fails the 2B test at 89 1/2, it will be a failed double top. 65 minute chart: home.earthlink.net Shows the potential breakout on any move higher, as it tests the high of 12/6 again, and also how it's held above its 200day EMA for most of the week, for the first time since early November. Comments please! And maybe a pivot point or two? <g>

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