Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Mark[ox5] who wrote (3374)	12/14/1997 3:23:00 PM
From: TATRADER	Read Replies (1) of 7396

Markox5, I looked at MAVK...You have a Head and Shoulders top with neckline at 35.00...Top of Head reading at 50...Subtract 15 from neckline, potential downside is 20.00 a share...However, I think it will find support at 22.50...Simple 200 day is at 23.69, which also should lend some support...Since volume has been dying out, we could snuggle into the 200 day area and then move into a trading range.... Reason I say this is the ADX reading is at 24 which does not yet demonstrate to me the emergence of a strong new trend...I look for ADX over 30 to tell me that...If you observe, the ADX has been decreasing the past few sessions not increasing...My momentum indicator did flash a bullish divergence with price, but I would not commit to this puppy...There are better fish in sea....Regards, Mark

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