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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Ocote who wrote (15707)4/29/1998 3:33:00 AM
From: Doug R  Read Replies (2) of 79384
 
Ocote,

BNYN: ACT formed 2nd week of March. Value for Wed. 6 3/8. This one went WAY over the IL...Best fit T2 on 2/25. Currently short term oversold. I expect a bounce over the line from the high on 4/20 across the high on 4/23 then the price should drop using that line either as support or as a regression line.

I get no data for a GMGI or MSPC.

PR broke through the IL on 3/13 and more or less ran right up it and blew off. ACT formed end of Feb/beginning of March. Value for Wed. 10 1/8. T2 on 1/29. Currently short term oversold. Still above IL and may run along it some more. 5/1 or 5/4 looks like where it will become vulnerable. Same type of funky line I gave for BNYN on it would be from the high on 4/21 across the high on 4/27. I'm using this line because of the gapping activity previous to the blowoff on both.

PRGN broke above IL on 4/9, struggled with it then blew off. It is back below it as of Monday. Great hanging man candle on 4/22. ACT formed late Jan/early Feb. Value for Wed. 17 1/8. T2 on 1/7 This one looks the easiest and least risky of the 3 to go after. The IL should be resistance now and the first sign of reaction to that resistance (it's also short term oversold but the bounce will be weak) would be the best time to go short.

Nice work on IDing these.

Doug R
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