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Strategies & Market Trends : Technical Analysis - Beginners

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To: gonzongo who wrote (7268)	12/17/1997 7:33:00 PM
From: Big Sky	Read Replies (1) of 12039

Well, I'm still here and am ready to take you up on your kind offer to critique my TA. I'd be grateful if you take a look at SEIC. It has been in a consolidation patttern since October and looks like it broke out today to the highside. Observations: Short term observations are based on daily data, medium term observations are based on weekly data. 1. Nice tight BBs! Broke upper boundary today. 2. High Volume today, about 2x average 3. Short term stochastics cross over today 4. Short term MACD crossed over, MACD indicator line is above zero 5. Strong positive money flow, escpecially over the past two months, during the consolidation. 6. OBV on upward slope 7. Medium term RSI looks very strong (weekly data) I plan to buy 1/2 of a position and double up when it hits 45, with a stop at 41.5 I look forward to your comments, this will be my first investment based on TA.

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