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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Petz who wrote (109193)	5/3/2000 11:54:00 AM
From: tejek	Respond to of 1579130

ted, isn't the pattern of increasing oscillations sort of the reverse of a pennant formation? How do reverse pennants (supposedly) resolve themselves. Petz, A pennant is a chart formation that occurs when a stock's trading range narrows to a point on increasingly low volume....this type of pattern acts as a compressor usually resolving itself with a gap up or down. Its the compression in a pennant formation that forces the price up or down; so if you had a reverse pennant what would be the catalyst for movement? I don't see one. I don't think the oscillations on the chart are as important as the movements of an oscillator like stochastic that follows the chart. Do you have a website that provides that? Clearstation provides the stochastic for individual stocks but not for the SOXX. My take on the chart is that the downtrend that started 3/10 has been broken (a bullish sign) and that the break needs to be confirmed by a higher low than the 4/22 low and the next high after that new low has to be higher than the 5/1 high. Richard or Jim or niceguy might want to give your thoughts. ted