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Strategies & Market Trends : Tech Stock Options
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To: HairBall who wrote (49956)8/15/1998 8:00:00 PM
From: donald sew  Read Replies (1) of 58727
 
LG,

>>>>>> I took a look at DELL...end of day. Triangulating from the high of the day on 7/20, I see either loosely, a bull pennant (got to throw out one low penetration) or strictly, a bull flag. Neither have resolved.<<<<<<<<<<

Technically, it could be argued that it is a SYMETRICAL TRIANGLE or a DESCENDING TRIANGLE. You have the top line plotted correctly starting the the highs of 7/20. One could connect the intraday lows of 7/7 and 8/5 to form a SYMETRICAL TRIANGLE. The other choice is to draw a horizontal line near 104, which then would form a DESCENDING TRIANGLE.

Symetrical or Descending triangles in a downtrend are normally a bearish signal.

I do see the narrow flag formed by the last 5 trading day; however flag formations normally takes the direction of the current trend, of course there are exceptions.

Seeya
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