Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Zeev Hed who wrote (29332)	2/11/2002 6:14:53 PM
From: ajtj99	Read Replies (1) of 99280

Actually, after looking at that H&S on BRCD after Larry pointed it out, that seems the good bet for a nice drop. It has already hit 30.25 last Friday, and that's a good 10% lower than where it closed today. It touched the neckline again from below, and it should be primed for a nice drop after expiration. Am I missing anything here? $30.25 is close enough to be a .382 re-trace off the high of 41.37 on Jan. 9. The next real support below the 29.50-31.50 box is about 26.50 or so. That is close to a 50% re-trace off the high ($27 would be a 50%). Price by volume also indicates decent support in the $25 area. It would seem that if the $29.00 level is breached, a drop to $26.50 would happen, and $25 would not be out of the question. My question is, how strong is that support at $29 in a possible drop below COMP 1750? You've been playing this one a while, so I was wondering if you're seeing the same thing I'm seeing.

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