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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (13671)8/31/1998 9:45:00 PM
From: j g cordes  Read Replies (1) of 120523
 
Part II.. This chart from SecuityTraders is standard fare for guaging support.. first at 7400 then near 7000. I would personally add another line across the top of the shoulders which suggests a rebound high to approx 8500 area. Drawing a parallel line along the underside of the shoulders gives an initial retracement to what the author labels "major support zone".. this area would be first resistance on a determined rebound.

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