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Non-Tech : ENR trading on AMEX. ( Envirotest)
ENR 20.21-0.3%Dec 29 3:59 PM EST
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To: Batgirl who wrote (39)7/24/1998 1:08:00 AM
From: High Grader  Read Replies (1) of 62
 
Yes indeed, there are a set of trend lines. Trend lines are very powerful technical indicators.

If you join the April lows and the July lows you get a trend line that is presently providing support. A Parallel trend line can be drawn joining the last two major tops. This gives the channel that ENR has been running in. If it continues to run up you can see where the next high will be reached (theoretically) as it moves up to the upper parallel trend line.

The thing to watch is whether or not the present trend line holds.

I will post an update as soon as the market gives us more information to work with. Meantime, remember that cycle and count the days ahead and make a note of the date. When we get near that date, remind me to have another look at that time.
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