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Non-Tech : Home Depot (HD)

HD 371.07

-0.8%

3:59 PM EST

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To: Edward Boghosian who wrote (508)	2/10/1999 10:02:00 PM
From: Jim Roof	Read Replies (1) of 1169

you probably saw on the chart that HD formed a double top which is bearish Double tops need to be over a longer time frame for them to be considered legitimate tops. This according to Edwards and Magee's "Technical Analysis of Stocks". The two tops should be 2-4 months apart. Also, it is not a double top until the support found in the dip between the tops is broken in earnest. I don't think HD is making a double top here. I would rather suspect some type of consolidation as we trade sideways for some weeks. Jim

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