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Strategies & Market Trends : Chart Formations
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To: Casaubon who wrote (842)10/3/2005 5:56:38 PM
From: Casaubon  Read Replies (1) of 967
 
stockcharts.com[h,a]daclyyay[dc][pb50!b200][vc60][iUb14!Li14,3]&pref=G

that is most definately an advance block pattern! It doesn't mean the stock (or the company) is trash. It doesn't even mean that the stock price will reverse. And it definately doesn't imply that the stock price will plummet! What it does imply is that upward price movement may be stalled, and this may be a zone where profit taking enters the picture. People should look for the stock to build a base to determine entry points. By the way, it is even possible for the stock to drift somewhat higher from here, but, expect such price action to be short lived, IMO. At this point, I am looking for signs of reversal to the downside with objective of acquiring shares at the low of a new base.
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