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Strategies & Market Trends : Lizard King's Trading Swamp
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To: shasta23 who wrote (4233)1/30/1998 2:18:00 PM
From: TATRADER  Read Replies (1) of 7396
 
stefan, SVRN remains mired in a downtrend...Your -D1 reading is at 17, +D1 at 29 and ADX at 26....I like ADX over 30 to show me strongly trending stock...I drew a trendline on the Relative strength line, and feel it should be repelled at 50, presently sitting at 45...Also take a look at the simple stochastic chart...Note the lower peaks on rallies to 20.00 area...This tells me the stock is in trouble...I took a quick look at overhead and there is a bunch....I would potentially short this stock at the end of the envelope channel around 20.50, or the top of the Bollinger band at 21.00.....Otherwise I would wait for a break of the neckline at 18.00....Regards, Mark
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