Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: sean sanders who wrote (3064)	7/31/1997 12:57:00 PM
From: Robert Graham	of 42787

It does look like another flag is being formed. But IMO this is still a little premature to call or act on. I agree with Chris to focus on the basics which involves the trendline. When you entered the stock, what was the objective? What reasons did you have in entering this stock? Short term or longer term trade? What plan did you outline for yourself which includes when to exit the stock? The volume is currently validating moves up by the price of the stock. There is a resistance point at about 11.25 or 11.5 which should provide some support. Volume is still strong. In a consolidation pattern like this, the volume should decrease before its breakout. I see this stock has been in a consolidation patter, a form of a symmetric triangle, since the latter part of last year. I think this stock may end up more as a trending stock with a more realistic trend channel once the investor excitement dissapates some. The current slope of the stock's move up is not sustainable. I think this stock has not seen the end of its uptrend, but a consolidation may be in order here. I believe this stock will reach at least 14 based on what I see so far. How is that for sticking my neck out? ;) I think you are using an MACD that is better for very short term trades. An MACD for trending stock may be better suited for this stock. It depends on the timeframe of your investment too. If you got in on the breakout at about 9 for a quick turnaround, then now may be a good time to take profits according to your indicators. Still, I suggest not changing you plan or system (indicators) in the middle of the execution of your investment. In summation, I think it is a bit premature to act on what appears to be a flag patter forming. However, I do think this stock will see high prices. Was their any change in the fundamentals or relatively recent press that caused this breakout back a couple weeks ago? Pehaps news that they will turn in a profit? Just my opinion. Bob Graham

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