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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts
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To: Thomas M. who wrote (183)7/24/1997 3:18:00 PM
From: HeyRainier   of 257
 
I think people might sabotage themselves and create a self-fulfilling prophecy by selling at known resistance levels, and just create another one("See! It knew it would stop there!"). It looks like there is resistance at the high 50's and low 60's, but the real resistance is at 72, and from what I've seen, it tends to get choppy whenever these levels get approached. As for the eventual direction it goes, I can't predict it. Just expect some volatility in the coming weeks once it approaches these levels.

Regards,

Rainier
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