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Strategies & Market Trends : Technical Analysis - Beginners

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To: David R. Evans who wrote (8209)	3/31/1998 1:48:00 AM
From: shasta23	Read Replies (1) of 12039

HI DAVE! Tried to learn from the mentioned stock IMG. At least now i know which kind of pattern in stochrsi(14) and (8,5) you are looking for and this stock also answered a question i had: does it matter to you at which level you find MACD(13,34,89). IMG has a very positive MACD on a slight pullback and i guess that's OK. Or do you prefer a bottoming of the longer term MACD if you had the choice? I was first astonished to see that you would buy here right under resistance instead of waiting if the stock will establish itself above that level but then i thought that maybe this is the whole point that stochrsi(14) is still low so that there might be enough power behind the stock to propel it higher and through the resistance. Otherwise the stock might be exhausted when it gets to the resistance...?!?! . Another point for me here was the risk. YOu have some support at 11 but that didn't hold the last time so that the real support is at 10. If you bought at the opening today that would be a risk of 13-15% to the next support area. Or do you place a stop(mental, hard, whatever)e.g.5% under entry point to get you out if there is no follow through? I try to buy close to a support(in form of a trendline or a moving average) lately to minimize price risk but i admit that i gain a "time risk" because sometimes the stock just lingers around the support for a while and the money is not doing anything. Any comments? P.S. Since i'm in asking mode an unrelated question: Are you looking at trends in the peaks/bottoms of indicators like stochrsi(14) or MAcd(8,17,9)? I see sometimes trendlines in these indicators but other times they get violated so their reliability seems mediocre. Thanks for being back with us and sorry for the assault with questions. Your answers are just always great and i get addicted to them and want more and more. Stefan

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