NEXTEL Message Board - Msg: 3920195

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Technology Stocks : NEXTEL

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To: Ed Pittman who wrote (5488)	4/1/1998 3:53:00 PM
From: Arnie Doolittle	Read Replies (1) of 10227

Ed, here's the cup and handle as I see it on the weekly chart: Week ended 7/1/94 broke support at 31 3/4 - left side of cup. W/E 10/10/97 - cup completed at 32. W/E 12/19/97 - bottom of handle at 21 3/4. Yesterday - completion of handle and breakout. According to usual ta rules, a breakout must close at least 3% above the resistance, which in this case is 31 3/4. Today's pullback does not change that imho. Remaining? Perhaps a quick retest of support at 32 3/8 and then upward on onward. Today could be that day. Maybe yes maybe no but the bullish trend had now been confirmed. Notice the low volume representing indecision for bears and a breather for bulls after the stock hit 32 3/8 10 days or so ago. That was a powerful ta signal, as mentioned by several others on this board. Arnie

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