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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?


To: Karen Lawrence who wrote (6200)2/10/2000 6:52:00 PM
From: Guy Gordon  Read Replies (2) | Respond to of 24042
 
Well, I'd love to see that. :-)

I'm no expert on TA patterns. (As I've stated, I distrust TA because it's too easy to see things that aren't there.) But if I had to guess, I'd say this is what La_Scienza meant by a pennant:

white-crane.com

The blue lines covering the last three weeks form a triangle, with JDSU bouncing off the top & bottom, and getting squeezed over to the apex. The volume is indeed decreasing, as shown by the bars at the bottom. The idea is that when the price action can no longer be contained within the triangle, it will now break out big to the upside.

I wonder if the pennant I drew is the same as his?