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: Matt G. who wrote (19935)	7/28/1998 11:54:00 AM
From: Doug R	Read Replies (2) of 79270

Matt, I'm not sure what you are looking at in ELGT. Can you give me some dates for the triangle you see? There's a head and shoulders (not the inverted kind) with a left shoulder high on 3/23 and a right shoulder high on 6/25. The neck line (which isn't too terribly descending) is from the lows on 4/7 and 6/8. The price over the last few days has been using the neck line as support and since the 3 dRSI has an IHS way down in oversold territory, I have to expect that the price support on the head and shoulders neck line has a good probability of holding. Doug R

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