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Strategies & Market Trends : Technical Analysis - Beginners

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To: Richard Estes who wrote (9856)	3/15/1999 6:21:00 PM
From: Michael Watkins	Read Replies (1) of 12039

Richard, thank you for that. I have not spent much time with fans and arcs and the like and this seems like a good time and get acquainted with the tools in WOW for this. Is there anything is particularily telling when it comes to predicting the direction of the break as well as the potential the magnitude? If this base was formed in as a pause to an overall uptrend, a favorite setup of mine, then the future move is fairly self evident. In this case this stock was beaten from 50 to 20 in the space of 10 trading days, and then it entered this basing period. My premise for speculating on this stock is not 100% based on technical analysis - knowing this company I feel the sell off was not wholly justified so I do expect it to regain some lost ground. ( This by the way is not my favourite setup! I'm sure I should run, not walk, and pin this chart on my wall as an example of what not to do.... ) Michael

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