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Strategies & Market Trends : Charts With An Attitude; Trading In & Out
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To: Dave H who wrote (4414)12/24/1997 2:17:00 PM
From: ivan solotaroff  Read Replies (1) of 4701
 
Dave,

re: your trendline that shows support for RECY at 4 1/2; because of the low established by the post-correction day low, aren't there several other lines that can be drawn, using days in mid- to late-September: The ones I've drawn show support currently at 6 1/8 (or 3/32); 5 7/8; and 5ish. The line don't cross any lines accept the ACT, and, inasmuch as the ACT is representing a halcyon build-up period, I think it can be crossed without violation of what the inherent worth of the stock is, as priced by the market.

Ivan
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