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Strategies & Market Trends : Technical Analysis - Beginners
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To: Robert G. Harrell who wrote (11974)1/11/2002 9:10:37 PM
From: Wayners   of 12039
 
IMO a reverse head and shoulders after a long uptrend is bearish and here is why. The inverse head is most like a break of the uptrend line. That is a warning shot across the bow that the uptrend is very likely ending, however this is not the best time to get out unless there is some devasasting company news lurking. What will happen is the price will rally off the head and retest the uptrend line--this is the time to get out and many T/A books will tell you to short at this point--this is the inverse right shoulder. If in doubt plot a chart of the sales growth year over year percentage wise--quarter to quarter. If sales growth is flattening or even decreasing get out because once sales start to slow, losses cannot be far away because sales will drop faster than the company can cut costs. Hope this helps.
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