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: greenehugh who wrote (7004)	1/10/2006 12:50:40 AM
From: chowder	Read Replies (1) of 13449

Re: EK ... In looking at beaten down stocks, I like to look at monthly charts. In the case of EK, we see a nice long term double bottom set up on EK. The October lows of 2005, came down to test the October lows of 2004, almost to the penny relatively speaking from a long term view. Monthly chart: stockcharts.com[h,a]maclyiay[d20010109,20060109][pb40!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G If looking for a longer term trade, a nice buy point was as price rose above the 40 week moving average which coincided with the pivot point of $25.14 established the first week of December. MACD is showing the kind of strength on the longer term that suggests price will continue to rise even if the 200 dma on the daily provides short term resistance. Weekly chart: stockcharts.com[h,a]waclyiay[d20050109,20060109][pb40!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G EK is looking like a nice long term set up. dabum

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