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

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To: Cary C who wrote (956)	12/30/1997 11:47:00 AM
From: Dave H	Read Replies (1) of 2377

SRSL (preliminary look) I've quickly looked at the chart and this one does look good. It's been in a powerful, accelerating downtrend since may/june but just recently broke out from the most recent downtrend on 12/17 where it also made a higher low compared to the low on 10/21 which also was a higher low than the bottom on 9/25. Thus we now have a series of 2 higher lows -- a valid uptrend. Right now SRSL is fighting with the longer term downtrending resistance set up from its initial downtrend started in may/june. The recent high on 12/23 bounced off this downtrending line, giving it more strength and credence as the true downtend that SRSL must break out of to really take off. Right now this line is at about 8. Based on the chart, this one could really start to take off if it breaks through this line (ie around 8) on STRONG volume. The three month avg volume for SRSL is about 71k -- I'd like to see at least triple that for a good breakout. I'll have more time later to do some more in depth analysis later. Looks like a good one so far though! dave

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