Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Zeev Hed who wrote (10152)	6/25/2001 8:25:14 PM
From: Pierre	Read Replies (1) of 52237

Zeev: QCOM showed up on my eod short candidate scan this afternoon. I'm expecting a resumption of the downtrend begun in late may, and if I am reading it correctly It is confirming with a "hanging man" candle pattern. My concern is that today it has tested a previous support level (52.50) and bounced. Also, it is still below the 20 dma, and I'm usually more comfortable if it is between the 20 and 40 dma, or at least bounced off the 20 dma. Neither is the case here. Given the short term uncertainty with the fed announcement wednesday, I'm a little hesitant. Still, I think the market is headed down hard and Q* will follow that trend as wireless still has some blood to give. Curious your thoughts from a purely technical perspective. TIA. Pierre

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