STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE Message Board

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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE

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To: Sergio H who wrote (647)	12/21/1997 1:17:00 PM
From: Dave H	Read Replies (1) of 2377

UCOR -- UCOR made an all-time low on 12/11. the downtrend its been in since it began trading accelerated in october and there's no sign of slowing. Just looking at the chart, this one doesn't look good. One possible glimmer of hope -- the 13,8,8 stochastics just made higher low while price made a lower low. Doug R says this can lead to a strong reversal. It actually has made a higher high while price has not followed suit. This type of divergence is promising. Ok, three possibilites I see this week: that move over 7 on volume could take this one back to 9 very quickly, maybe even higher. Otherwise, look for a slowing of the downtrend with little change for the week. Otherwise, look for a complete breakdown and a lower low. Downside risk is pretty high though since there's no support now that 12/11 marked a new all time low. -dave

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