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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: coaster who wrote (10937)1/20/1998 10:32:00 PM
From: Doug R  Read Replies (2) of 79273
 
Keldog,

On 12/15 APMC's price was 6 with the 3 day RSI at a whopping .657.
On 1/2 APMC was down to 5 1/4 while the 3 day RSI had muscled its way up to 17.5293.
On 1/14 price was 5 3/16 and the RSI was 40.5892.
Then on Fri. 1/16 price: 5 3/8...RSI:51.5223.

That the price was down during this period and the RSI was building strongly, shows a turn up is very very likely. Now the RSI is at 57.4664. It's just about at a short-term breakout point and a breakout would likely occur on volume. If it moves up again just 1/16, it's out.

The stochastics momentum has been doing the same thing...building a sharp uptrend with no corresponding move in price. This is exactly what to look for. My mouth is watering.

Doug R
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