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Strategies & Market Trends : Charts for Quick CASH $$$
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To: rustyjack who wrote (5722)1/18/1998 1:47:00 AM
From: Galirayo  Read Replies (1) of 9262
 
[ HDSN ] Hi, Ron.

I'd say you found one that has made it's move pretty solidly above the 50DMA.

The Big Sto List picks up the Triggers but it's also important to see the Pattern in the Sto.

Let me explain.
The Sto runs from 0 to 100. Below 20 it's oversold above 80 it's overbought.
BUT ... The Oscillator Rolls in a Wave. So it's important to look at the Direction of the Movement.

In-Coming Tide or Out-Going Tide??

Bottom Reversal.
On 10/10 the Fast Line reversed @ 15.03
On 11/19 the Fast Line reversed @ 21.45
On 12/24 the Fast Line reversed @ 29.01

If you draw a line from 15 to 21 to 29 you can see that the Reversal of the Fast line on it's Low is increasing.

Top Reversal.
On 09/22 the Fast Line reversed @ 64.68
On 12/11 the Fast Line reversed @ 64.90

The Reversal on the Fast line on it's High is increasing.

So, Ron. I'd guess it's safely thru the 50DMA. And it's on to the 100DMA @ 4.51. And then after that when it cracks 4.51 ... it's on to 4.60 (the 89DMA) or 4.78 it's last Top.
I'd expect some resistance here.

4.60 will put on a 50DMA Breakout. Now you have some MOmentum players.

When it passes those resistance points the 150DMA is it's next Target near 5.44.

Remember to shave a few Cents off of those Resistance Points for B/A Spread. I'd try to go by it's common B/A Spread.

Ray
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