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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: qu168 who wrote (32241)	10/7/1999 4:15:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79208

q, Oh drat. I was just gonna say that 9 3/4 to 10 1/4 was what the chart gives it room to do while still retaining healthy upside bias. But, sheesh, you requested clarification so...here it goes: First, there's a short term uptrend along the lows on 8/10 and 9/2. That uptrend line represents a supply/demand dynamic. It may even be the dynamic that relates to the reason which you bought TALK. Since that line was established, the price came down to it a 3rd time on 9/14. Although there was a technical bounce off the dip that culminated in that 3rd touch of the line, the fact that the line was tested again actually represents the calling into question of the supply/demand dynamic evidenced by the first two dates. You'll now notice that the supply/demand dynamic that put the uptrend in place has now given way in that the last two days have seen sellers willing to part with their shares at prices below that line. There are also indications of a technical breakdown that coincide with the price chart activity. I used the 9 3/4 to 10 1/4 range because there is a longer term uptrend line that will approach those prices in about the time that it usually takes stocks with TALK's chart type to move that much. Hope this helps, Doug R