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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Frederick Langford who wrote (411)	6/3/2001 7:51:20 AM
From: Vendit™	Read Replies (1) of 8752

Re: CPST This stock is at an extremely difficult stage in its cycle make what I would consider a reliable short-term forecast. For this reason you are going to see a few additional indicators in the chart below. askresearch.com My first thought is that the stock is not at a good point technically to take a long position in. Stochastic which is the first indicator that I look at is in a very over bought condition with a medium term sell signal confirmed 3 days ago. Friday's candle has a negative slant IMO. If this "T" shaped candle were at the top of an up trend I would take it as a reversal signal and sell. If it were at the bottom of a downtrend I would take it as a positive upside reversal signal and buy. The fact that it formed within the previous day's trading range I DO take it as a neutral candle. A test of support at $30 is probable over the next few days to a week. The indicators are mainly pointing to neutral or sideways going into Monday so I don't expect the fall to be sudden. The lower trend line is located at about $31. Momentum favors the downside. JMHO

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