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Manny, APCO....As you know technical analysts, use a variety of indicators to help them tell a story on a stock...One or two indicators alone do not tell the whole story...You must combine, chart patterns (ascending flag on APCO), volume studies, a series of oscillators, and indicators such as Gann-retracement, Fibonacci arcs, etc, to help understand the story...IMHO, it eventually becomes an art, where you put together all the ammo at your disposal and come up with where the stock is headed.....My take is that APCO will soon test the 6.21-6.38 support area...You made a lower low on Friday, and if you don't get some gas soon, that overhead will cause this stock to fall by its own weight...65,800 just does not cut it....Good luck....Mark |
