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: tincup who wrote (24951)	1/4/1999 12:52:00 AM
From: Doug R	Read Replies (2) of 79230

Tincup, Due to the restrictions in the rules for a MIMBO that the dynamic appear on a chart of monthly closes, PILT's history it far too short to be considered along those lines. Its history IS long enough to use other technical and charting methods however. The first thing I see is a great wedge (triangle) formed across the tops starting at its 8/98 high and along the lows from 10/98. Just that view is enough to see that it's very likely a great buy upon the breakout (on volume) of that triangle. After looking at the technical profile I could go out on a limb and say it should break out this week. Probably on Thu. but maybe sooner. A stop loss would be placed just under that trend line from the low on 10/8 to the low on 12/15. Doug R

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