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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (23291)11/21/1998 2:42:00 PM
From: Doug R  Read Replies (1) of 79214
 
David,

In looking at AKLM lines I found an interesting one with great relevance to yesterday.
The price broke above the line along the tops on 1/20/97.....3/3/97.....3/18/98.....and 11/3/98
Definitely a solid upper channel line.
A bottom channel line along the lows on 12/31/97.....9/1/98.....and 10/8/98 gives the channel an amplitude of 5 points.
Based on that, AKLM's new channel should be 5 points wide and will likely trend up more steeply than the previous channel which moved up at a rate of 1 point every 8 mos.
The bottom of the new channel may already be established. I'm trying to find that now. If I find it, a possible rate of ascent would also be found. So, if it's moving up at say, 1 point every 3 months you would get a channel top on AKLM at 16 three mos. from now. I'll let you know when I find it.

Doug R
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