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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From: chowder	12/20/2005 9:00:59 AM
	Read Replies (2) of 13449

12/20 SET UP ... DRIV ... Long Term .................... DRIV is setting up on 3 various time frames which indicates it would make a good long term play. In looking at the monthly chart, price has successfully tested support (as shown on the chart) on three different occasions. We also have a rising 40 month moving average which is helping to provide additional support. Monthly chart: ttrader.com The weekly chart is showing a series of bottoming tails. These tails are confirming that the bulls are absorbing all the the supply the bears are bringing to market. These bottoming tails are suggesting we have seen the bottom and with the way the supply is being absorbed, we could reasonably expect demand to take price higher. The volume patterns are suggesting a volume transfer from the bears to the bulls. This is bullish. Weekly chart: ttrader.com The daily chart is showing a nice base forming after price had a gap up and over the 20 day moving average. This base or sideways consolidation has held up while the rising 20 day moving average comes up to hopefully provide support and help push price higher. Daily chart: stockcharts.com[h,a]daclyiay[d20051020,20051220][pb20][vc60][iut][J65113138,Y]&listNum=1 Entry target above $30.80. Price target $3.50 to $9.00 depending on how long you consider long term. Stop should be placed below $27.90. dabum

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