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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Zardoz who wrote (7231)1/25/1999 5:12:00 PM
From: Otto GRAF  Read Replies (2) of 37507
 
Dear Hutch,

Since you are a tech. analysist, you should be able to see the difference between a BH/SF (bottom head/shoulder formation) and a TH/SF (top head/shoulder formation).
Right now we have a TH/SF pattern which is completed and we are doing the last call; so when you do a last call like this one the price should go to the next RESISTANCE level which is at $6.00 done on Nov. 30/98 but that doesn't mean the price will reach or test that resistance but it is very possible. This is with the RSI with a 14 or a 7 Periods. Now, to answer your question when the price started to increase and fly to $10 or so as you said if you look at the RSI and enter a 7 periods instead of a 14 periods so you can see a beautifull BH/SF given by the RSI on DEC. the 3, for the left shoulder and DEC 14 for the bottom head and DEC 18 for the right shoulder than you had the most beautifull buying signal given on DEC. the 23/98 at around $3.10 ; than if you look a little further you had a decrease into the price on Dec 30/98 and this is the last call and the real buying signal was given on January 5/99 at around $4.25/$4.50. You can take a buying or a selling signal depending of the configuration sign after the RIGHT SHOULDER and also after the LAST CALL. I don't want to go too much into the details to confuse the one which are not too familiar with the tech. ana. But the real buying or selling signal is right after the NECK LEVEL. I hope i answer your question.

OTTO GRAF....
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