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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Yogizuna who wrote (42858)11/7/2000 10:49:49 AM
From: The Phoenix  Read Replies (1) | Respond to of 77400
 
Yogi,

I'm not an expert on this P&F stuff.. although i do find it a useful tool to buy and sell stocks I like. It isn't too useful in locating good stocks but is a tool in determining when to buy, hold, sell... Typically one would buy on a test of a bottom (without failure) and sell on a test of a top without a break out. But higher highs and higher lows are a good time to continue to run with the stock... if CSCO sells off to $53/$54 the chart is very healthy - especially if this is followed by a move to the plus side $58+...

OG



To: Yogizuna who wrote (42858)11/7/2000 1:00:26 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 77400
 
Yogi,
The trendlines on the P&F chart are not drawn from high to high. The bearish resistance line on the 2pt chart that is in effect right now was drawn in early September without the recent highs as a connecting point. Often these trendlines will correspond with the 200dma.

In other words, the line that you could draw between 82 and 70 would not be a legitimate resistance line by P&F techniques.
JXM


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