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Strategies & Market Trends : Technical Analysis- Indicators & Systems

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To: Claud B who wrote (1306)	6/7/1997 5:29:00 PM
From: Uncompaghre	of 3325

Claud B and/or anyone who can help with this elementary problem, I have a company (SCNG) that has gone up 56% since establishing a major double bottom two weeks ago. 30% of that increase happened last week. Last week's increase came with an excellent rise in volume. Friday, the stock closed at the high for the day and volume had diminished (although it was still at least twice the average). The rally can be attributed to S&P 'Stock of the Week' status. Momentum is high, Chaiken is up, RSI shows overbought as does Stochastic and CCI (all these at the Metastock defaults), the close was above the upper Bollinger Band; My question is, does the slowdown in volume and the complete absence of distribution at the end of the day indicate a continuation of the trend or a consolidation. Any input on this would be appreciated. Tom

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