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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: MJ who wrote (2896)	12/22/2004 8:06:42 PM
From: Vendit™	Read Replies (2) of 8752

MJ, Re: LU LU has been on a recent medium term tear and is now showing signs that it is having trouble moving above the first lower resistance point located just above $3.75. themarketwind.com There is a huge volume filled candlestick which currently controls the stocks trading range. I marked the candle on the chart as being the power candle. That stick’s lower end is the current upper resistance point for LU. During the past 5 sessions LU has attempted to rise above that level but has been repelled back down by that technical resistance point because of the lack of technical momentum that is currently unavailable as I’ve indicated on the chart in the link below. Williams is showing that a sell back down to even lower support may be what is about to happen. The Williams line is bending downward and is the earliest reversal oscillator indicator that we have in the bag of tools as stock technicians. themarketwind.com I would not consider LU a beaming buy long at this point. Reid

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