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Gold/Mining/Energy : Winspear Diaminds (Bulls Board)
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To: Tomato who wrote (986)6/1/1999 11:19:00 AM
From: High Grader  Read Replies (1) of 1172
 
have a look at the WSP long term chart and you will see a large cup and a little handle. The left edge of the cup is at 3/06/97 the right edge at 12/30/98, the handle is obvious once you can see the cup.

Once the price breaks above the two points that form the handle, it usually goes up to the depth of the cup added to the break out. In this case that is about $4.00. It is a chart pattern that is very reliable, but requires a break out above the rim of the cup.

WSP is near to this point. It may pull back from the breakout line as it gathers strength and may fall back to the break out line once it has broken out. Both of these are good places to pick up stock. The latter is especially good, as it has a confirmed breakout and gives a last chance to get on board cheap.

All chart patterns work some of the time, the problem is when they don't. So as usual you have to be the ultimate judge. To me the pattern looks good, but the market will tell all.

Good luck.
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