Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: jim_p who wrote (35)	10/14/2004 9:16:59 PM
From: chowder	Read Replies (2) of 13449

Brother Bum, Technically, CPN looks like it could bounce here. It has been in a steep downfall and the intraday charts are all looking bullish, from the 5 minute chart up to the hourly chart. The hourly chart is showing a bullish engulfing pattern. This pattern takes on more significance given the steep sell off of CPN. If the price can get up above those green momentum bands I have shown on the chart, I think CPN will offer a nice short term trading opportunity. I want to see the momentum from the hourly chart shift to the daily chart though. If I decide to play, I'll set my stop a penny below today's low. This hourly chart does look like it's found a temporary bottom though. ttrader.com dabum

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