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Strategies & Market Trends : Technical Analysis - Beginners

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To: Marlin C. Harmon who wrote (7056)	11/18/1997 9:07:00 PM
From: Pilot	Read Replies (2) of 12039

I have been sort of a lurker here, reading and picking up TA knowledge, since you use the IQ site for quick reference (also), I was wondering what the folks on this tread thought about this one: iqc.com I think the series of charts show the following: The gravestone doji of three days ago indicates a reversal pattern and significant turning point (stock has risen), a trend line from late Sept to late Oct is intact, the stock seems to be establishing a new short term trend line beginning the second trading day in Oct., the rising moving averages confirm an uptrend in progress, volume increase confirms uptrend and potential for further price increases, the stocastics just crossed at 39/40 slight upturn suggests a buy, the RSI is still below 70 and the momentum is still in positive territory. I would really appreciate other input on this read. Sort of looks like this stock is retesting the earlier breakout of mid-october. The news looks real good for this company. If anybody is interested there is a report on SI on the "VCR" and if anybody has access to the S&P reports it is an interesting read. Thanks

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