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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (93517)10/30/2001 5:03:43 PM
From: Night Writer  Read Replies (2) of 97611
 
El,
Amateur TA

The COMPX closed at 1667 just below the 20 ESA. This is normally a sell signal and it was confirmed by MACD. With support at 1660 and a volatile market, a ST sell signal is tough to call at this point. Mr. Market has a perverse habit of doing the unexpected lately. I think one more close under the 20 ESA is needed to confirm a new down trend.

Some ST traders might have entered below $8. In that case, the little drop below the 20 ESA along with a small Doji star on October 26 signaled an exit point. (A break below the $8.85 support area might clean some stop losses out.) IMHO, CPQ's current narrow trading range would have little appeal to most ST traders.
NW
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