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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (69)	10/1/2000 2:08:57 AM
From: Teresa Lo	Read Replies (1) \| Respond to of 8925

WDC: Comments... We can start by looking at the monthly chart. The ADX is now at 11 after a long downtrend. It's virtually directionless now, going sideways. ispeculator.com Weekly chart looks to be a triangle but the volume does not really confirm this observation, since it should be contracting along the way to the apex. Nonetheless, it's an ever-narrowing trading range, and we know from experience that narrow trading ranges leads to a break of some type sooner or later. Note that WDC is now sitting at support at the 20-week EMA and facing resistance just overhead at the 20-month EMA. If you look carefully, since that big up week on August 13, it's been consolidating sideways exactly between new support and old resistance, in a very tight range for the last six weeks. A break to the upside targets $8 at the top boundary of the pattern. ispeculator.com Looking at the daily chart, I think the most likely scenario is a pop up to test resistance in the 6 7/16 area, the high made on August 29. IF it can blast through, THEN the next target is $8. ispeculator.com Hope this helps. Teresa