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: Doug R who wrote (23975)	12/6/1998 12:08:00 PM
From: Mike McFarland	Read Replies (1) of 79255

Quick question for all you technical oriented traders. When a stock gets hammered and then goes flatline on a given day--does that neccessarily mean anything? I've established a position in Pairgain, at 7 1/4...naturally I'm nervous that as I build a position above $6 over the next week, that it suddenly breaks through that support (is there support at $6). I do not do a lot of charting, if it holds here that would be a double bottom would it not? Anyway, back to the original question, on a intraday basis there was support at $7...but was that long enough on Friday to mean anything? Thank you ahead of time for any opinions which folks on this thread might have. And apologies if I barged in if this is more of a private thread. Happy trading, Mike

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