CHARTS AND TA, A UNIQUE APPROACH Message Board

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

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To: Rambi who wrote (1278)	11/20/1997 9:30:00 PM
From: stan s.	Read Replies (1) of 1391

PETD, ACTM............................................ geocities.com geocities.com PETD, important day tomorrow. If PETD can hold even it will close over this down trendline. Won't be out of the woods but will look a little better. This support line, which it just closed above, dates back to a basing in late summer. Still just above it's 200 day MA with a slight upturn in the momentum indicators. Looks like a lingering dislike of the secondary to me. Next support at 5 5/8 or so. This is a version of a descending triangle...just hope it can hold even. Remember that on an open green candlestick like today, the close is at the top of the real body. On the solid red, the close is the bottom of the real body. ACTM, getting interesting. A bullish Long Lower Shadow pulled this over the down trendline. First close above it in weeks...remember that solid red a few days ago, closed at the BOTTOM of the real body. A bullish divergence with the RSI as well...no other confirming MA's to the MACD recent buy. Still very close... today was a big market day.. worth a close watch here from a TA perspective. Appears at the least to be considering basing. I'm gonna show support at 14 1/8...possibly a bit premature.

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