The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: R. Ramesh who wrote (8022)	11/20/1997 2:44:00 PM
From: Dave H	Read Replies (1) of 79450

SEEQ.... Many of the POW's are up but I am looking at SEEQ which is about a 1/4 down. Is this a buying opportunity or is there something else? Ramesh, I quickly looked at SEEQ's chart -- SEEQ is still at the very bottom of it's uptrending channel line and is continuing the test it made two days ago. Today the channel line is at 3 1/2 -- so, a close at or above 3 1/2 would be important. A strong support line for SEEQ is at around 3 13/32, which is today's current low, and it has held nicely. However, if SEEQ doesn't hold above the bottom of the uptrend channel, I'd say it would be time to sell. Otherwise, I'd hold on a little longer. Also, personally I wouldn't buy more until SEEQ can confirm it will rebound off the bottom of the channel. There's a good chance it won't so buying more at this point could be risky, especially if support at 3 13/32 (also being tested) doesn't hold. -dave

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