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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Ken Adams who wrote (6314)	2/19/2000 3:52:00 PM
From: MartinF	Read Replies (1) \| Respond to of 39683

Hi Ken, Here's my take on SBUX using simply classical TA: tigerinvestor.com I think you are right about the ascending triangle, in that it is a bullish predisposition if it ever break through resistance on convincing volume, but it is working on a huge resistance area made of the pre-gap area where a lot of people (as seen with a long congestion zone), hurt by this sudden loss, are now trying to get out even. I think SBUX will work its way, eventually, but it'll take time, so it may not be a good trade right away and it will be choppy for a while. PS: I used prophet charts since I wanted to draw trendlines, but for simpler observations, Ill try to stick with your conventionnal chart web site.