Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Robet Butkus who wrote (93)	7/15/1997 10:47:00 PM
From: Trader X	of 7396

CHPS t + a. first let's look at the 6 mo. daily chart: tscn.com we see resist at about 11 1/2. Nice breakout Monday on high volume. Perfect head and shoulders bottom pattern. Secondary level of resist at 13 prior to the drop. next slide... 5 day intraday chart: tscn.com shows the price gapped up across secondary resist at 13 today. Sideways movement the remainder of the day is attempt to fill the gap intraday. The stock may come back to fill this gap on Wed., then reverse into upward mode as those who are waiting for a pullback to enter take advantage of the drop, electronic buy orders get filled, and the stock pulls out of the gate over $14. next slide... 12 month daily: tscn.com here I'm looking for a near term price target. The drop under $18 on huge volume is what looms large. That would be a big resistence level for CHPS. Target: $18. adios. -Kevin

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