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Strategies & Market Trends : today's chart
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To: The Perfect Hedge who wrote (508)9/4/1997 12:49:00 PM
From: Robert Graham   of 1267
 
1. For short term trades, I do not htink it is a good idea to hold onto stock.
2. A good price to sell would have been 33 1/4 in the classic breakdown with the price retracing back up to the trend line.
3. It appears to be consolidating now in a downside triangle which if validated will cause the price to drop.
4. RSI and MACD indicates that there still is downside potential to this stock. The RSI has recently broken through a support of its own.
5. The positive is that the support at about 31 1/2 appears to be holding.

So, if you can sell at a fair profit, IMO I think this would be a good time to sell. But this is just my opinion FWIW.

Bob Graham

Food for thought: A very successful trader was asked by a reporter the secret to his success. The trader replied that he sold too early.
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