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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: horsegirl48 who wrote (18758)	2/2/2001 9:59:38 PM
From: Walkingshadow	Respond to of 19374

HG, APA is an uptrending stock which has been in a trading range since the beginning of August, but the 200 day ema has been excellent support, breached only rarely, not very much, and for not very long. An attempted breakout from this trading range occurred in late December, and failed at that time. It is not unusual for a stock to break out from a trading range, fail, then after a little consolidation break out again and succeed. The failed breakout is more often a good sign than a bad: askresearch.com Now there are strong buy signals, and the stock has once again rebounded off the 200 day ema sharply. The buy signals are from very oversold levels, and the stock appears to me to be breaking out of a triangle/wedge formation to the upside. I'd say this is a buy, with considerable upside potential, and solid support at the 200 day ema. Minor resistance is at 63-64, with strong resistance at 66, the upper limit of the trading range. That will be the true test. At the moment, APA has considerable momentum. If the bulls show up in force this time, there will likely be a successful breakout. A clue will be what happens to volume and momentum as the stock approaches 66, and what the candles look like (bullish or bearish), and whether the technicals begin to weaken or not. JMVHO, as always...... WS