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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: pompsander who wrote (16580)5/24/2001 6:27:20 PM
From: Sully-  Respond to of 30051
 
I'm not a TA guru, but I don't see any handle............

Cup and Handle

A period of accumulation observed as a price pattern on bar charts. The pattern lasts from seven to 65 weeks. The initial price pattern is the shape of a cup or shallow 'U'. The handle typically lasts for just one or two weeks. The handle is a slight retracement of the last rally with low trading volume during the right-hand side of the formation. >>

echarts.com
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To: pompsander who wrote (16580)5/24/2001 9:54:36 PM
From: Zeev Hed  Respond to of 30051
 
Looks more like a double top in early formation, particularly if the $73 or area is not taken out.

Zeev



To: pompsander who wrote (16580)5/24/2001 10:05:12 PM
From: Baton  Respond to of 30051
 
Pompsander: Re MSFT - Looking at the 365 day chart, there is still lots of people that will sell into any strength. The resistance at $72 looks formidable. It certainly has some possibilities for a ST breakout, but I'd keep my stops real tight. IMHO only.
Baton


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