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Strategies & Market Trends : Technical Analysis - Beginners

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To: freelyhovering who wrote (8869)	11/6/1998 3:57:00 PM
From: David R. Evans	Read Replies (3) of 12039

Hello Myron, In most cases you would like to get in when you get the signal. In the case of AMGN, I got a buy on 10/15/98. If you use the next day's open, you bought at $77.38... On 11/2/98 you opened at $78.63 and closed at $79.56. Right now AMGN is at $82.81. The chart you are referring to is a weekly chart. Both the MACD (8-17-9) and the MACD (13-26-9) have recently broken through and should provide room to grow..... I think it will pause around $90 before a further move up..... The pause around $90 may develop into a W4 down BUT, that would be followed by a strong move to the up side.... When you look at a daily chart, you see MACD (13-34-89) breaking through and setting up what again looks like a long run up... Now, a long run up DOES NOT mean an up day every day...... I would use the MACD (8-17-9) as my exit. All runs eventually run out of steam. If you are trading longer term, you do not mind staying through a pullback. If you are shorter term you want out as soon as you sense a deep breath.. That's why exit tools need to be picked by the trader.. Dave Evans interactive.net

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