Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: margaret foley who wrote (826)	11/14/1996 2:05:00 PM
From: Andrew Hui	of 18263

Margaret, This is not your textbook definition but a flag or a pennent formation is a pattern on a chart that looks like a triangle. ZITL looks like it did just that. The "flagpole" was the run up from 20-44 with the "pennent" forming over the last month. It is neither a bullish or bearish indicator until a breakout occurs, which, as you have probably guessed, just happened the last two days. In this case, it was bullish. Iomega did the same thing back in May and June but got a bearish breakout and you see what happened there. Hope this helps. As for how high can this go? I wouldn't want to guess. If you really believe in chart indicators for range of movements, it says anywhere in the 55-65 range (probably more like 50-70). I don't buy too much into that though, what I try to get from a chart is just general direction and sometimes get lucky and see breakouts and other technical indicators and they only show up less than 50% of the time. Thomas, if you're out there and have something to add, I am always looking to learn more, especially from someone who knows more.

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