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Technology Stocks : Compaq
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To: Dulane U. Ponder who wrote (15781)1/31/1998 6:34:00 PM
From: Jorge  Read Replies (4) of 97611
 
Dulane....I agree to be prudent at this point is not to be bearish....It's a good time to sit back and watch for awhile......BTW, I used to trade a lot of commodities and one of the most reliable chart patterns for a serious break to the upside or the downside is now evident on CPQ's daily chart.....It's the pennant --higher lows and lower highs, converging to a point, almost dead in the center (picture perfect example of a pennant)-------Draw trend lines down the tops and up the bottoms, they will meet in the center....If the price breaks to the upside, it's short-medium term bullish ...If it breaks to the downside its short-medium term bearish........George
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