The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: stan s. who wrote (15759)	4/29/1998 2:05:00 AM
From: shasta23	Read Replies (1) of 79425

HI STAN! Hopefully you don't mind a few remarks from a newbie regarding DAVX: Yes beautiful MACD and STOCHRSI config(similiar to your stochastics)but i look at some simple things like the price,open,close etc. DAVX actually did have only one real good day and that was 042498 were it closed nicely higher. Otherwise it was unable to close at the high or lost it like today. Not a sign of strength i believe. Volume was low the last days today and when i scroll through the telecom charts then i see a lot of stock beginning to have problems. Moneyflow(i use 21 and 8 day) and PVI are also still very low without a clear sign of accumulation. There seems to be also a strong overhead area around 25 from late 1996 which was confirmed as a still valid support and resistance area in the end of January 1998. Plus all that moving average stuff...i don't know but in the great big universe of stocks i think that there must be stronger stocks that look more promising. I would become interested if the stock is able to take out that 25 area which would prove the turnaround and would a sign of renewed strenght... But then again i might be totally off since i'm not that experienced. Stefan P.S.BTW copied some of your weekly stuff since i never really had satisfying weekly parameters. Really like the CCI(14) and MFI(14) for weekly scaling...thanks for that!!! P.P.S. let me know what you think since i want to learn...

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