Candlestick Charting--The unknown indicator Message Board

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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: MonsieurGonzo who wrote (548)	10/5/1997 1:36:00 PM
From: MonsieurGonzo	of 1589

RE: INTEL, the locomotive... I trade INTCW, which has more leverage than INTC. This locomotive of the tech sector has been going sideways for nine weeks. It made a hammer on Wednesday, but INTCW is clearly struggling to get past 73~74. I believe AMD's early warning has clearly hurt Intel. The weekly chart looks bearish; Stochastics have turned negative, and the candles consist of a series of shooting stars and spinning tops. Last week, INTCW made a (near-enough) Doji; in this context - indecision. Earnings of this all-important stock are due to be released 14-OCT (TXN will announce before market open, INTC after the close). Although INTCW made a hammer on Wednesday, (as did AMAT), the stock is looking feeble at 73~74. I expect another shooting star - like (weekly) candlestick in these issues, again probing the tops of their trading ranges. We'll know for sure what the locomotive will do in 7 sessions! -Steve

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