Doug - RE: CPRD. I'm looking at a rather shorter time span here. There is an unbroken uptrend line from 4/16/97 to 12/16/97. And there is an acceleration from 12/19 to 1/27.
The downtrend you refer to 8/27/97 to 10/22/97 is unbroken, but it is inside a larger uptrend, also unbroken, of 4/16 to 12/16. So is it an up trend or downtrend? It seems to me that there are trends inside of trends. My larger uptrend may well be inside a larger downtrend which is off my chart. Meanwhile, in the shorter term, we have this new sub-uptrend from 12/19 to 1/27. Shorter (therefore weaker) that the downtrend of 11/23 to 1/5, which is shorter than the uptrend from 4/16 to 12/16. (Crap, I can't see the chart anymore - I drew lines all over it!! <gg>)
So, the bottom line is,
1. do you agree with this? and
2. don't you think the 12/19 to 1/27 short uptrend, accompanied by a general increase in volume in the last 60 days, and the aforementioned set of rising indicators will take this higher? Do you agree that the higher low and volume increase is important? (Understand, I am not looking for this to go to 50 or 60. Only from 24 to 28, possible 30, in a matter of 2 or 3 weeks. This is why I am not looking at a 6 yr chart)
FWIW, there 6 strong buy recommendations on it, but I'm interested in your interpretation of the chart, primarily. I'm likely to buy it tomorrow, and if I am in error here, please point out the weakness of my argument. Thanks for taking the trouble. I look forward to your comments.
Regards,
-Al |
