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Strategies & Market Trends : CHARTS AND TA, A UNIQUE APPROACH

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To: flickerful who wrote (1223)	11/18/1997 9:42:00 PM
From: stan s.	Read Replies (1) of 1391

AMAT, CYMI................................ AMAT, another broken stock. Notice the trendline break in late August. You gotta watch them. geocities.com A near term double bottom...support is backed up by a line to early June. Had a gap up yesterday...just enough to offer some hope of a redefined support line at 33. Resistance at 38 1/8. Some reistance here as it tries to break over the 200 day MA. If AMAT feels the need to fill the recent gap it doesn't need to drop to the real body...33.68 will do.. Low volume today...it's trading just under it's 200 day MA. A break and hold over that line on HEAVY volume is considered very positive. I think ENCD had one in the last few days with excellent results. A Bearish Engulfing Line at close...may signal a bottom...this is bottom fishing territory... Except for today indicators have been pretty positive...MACD buy yesterday. Stock has been pulling out of oversold. CYMI, a backed off image would look like AMAT. This had a gap up yesterday which could redefine support to 20 3/4. Filled the gap today which is common...we'll see if it holds. geocities.com Indicators pulling nicely out of oversold...a setback today on low volume. This close also generated a Bearish Engulfing Line...here again it may signal a bottom. This signal is formed when a stock opens higher and then closes lower...engulfing the previous day...on a solid red... the close is at the bottom of the real body. An MACD buy here yesterday as well.

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