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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Craig Stevenson who wrote (15746)4/15/1998 9:43:00 AM
From: Lhn5  Read Replies (3) of 29386
 
Craig the name of that triangle is a symmetrical triangle, and like tightening Bolinger bands predicts a 'violent'breakout but does not predict which way up or down. According to Edwards and McGee yuo can look at other stocks in same industry to get a clue as to direction. But different than the Bollinger bands it seems to predict a more sustained breakout, and to a similar extent as the last breakout in whatever direction occurs. Hmmm, same extent--wouldn't that be nice!!! Anyway, just giving out the definition of symmetric triangle.
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