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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Sergio H who wrote (8394)11/26/1997 12:35:00 AM
From: Dave H  Read Replies (1) of 79378
 
More APCO analysis:

Ok, I removed most of my trendlines to start fresh and see what I can find.

First I thought that APCO will need a new trendline after all this is over. So, I started on the lookout.

I found a trendline: connect it from 10/19/97 high to 11/14/97 high.
Now this trendline is more in line with APCO's current acceleration.
Perhaps this will be the bottom of a channel?

I keep the original top channel trendline, drawn from tops of 8/1/97 and 11/14/97 that I made on my last charts. It's a long line connecting highs all the way to present time where it no longer provides support/resistence but now it has reemerged as a potential uptrending support for APCO.

If you drew these lines on the chart you'd see a collision course coming up between them in just a few days, Both are in the positive direction, so I hope this implies a positive jump.
But, I think we might need to be prepared just in case price does fall dramatically in one day.

My guess: lines converge for Monday Dec 1. Until then, we will see more of six than 5 15/16, but still hardly ever 16 1/16.

-dave

NOW, as you can see, something very interesting might be happening real soon. These to lines will be crossing each other within 2-3 trading days. They are both uptrending too.

Something big is going on, and I think we are going to find out in just a few days.
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