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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?


To: nitlyn who wrote (45881)12/16/1999 12:20:00 AM
From: stan s.  Respond to of 108040
 
ELCO, pretty common pattern. The initial great surge off a bollinger break (basing) on incredible volume...the obligatory shakeout and the re-surge again.

The problem is it tested the previous open/close high but it had run out of ammunition, no volume.

It's at a pivotal point, this is not a bad pattern but if it continues to fade to 10 3/8...it very well may complete the drop to fill the gap at around 8 1/2.

Nothing to panic about but just be aware. This had the pattern to break higher quickly, it's getting close to losing that chance in the near term. Keep a very close eye on volume, without it recovery will be suspect.

My opinion only...based only on a glance at the chart. I have no clue as to news, earnings etc. Ultimately those things will determine the outcome.

Best with it.

Stan