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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?


To: moandlee who wrote (12372)7/21/2001 6:57:23 PM
From: Paul Shread  Read Replies (1) | Respond to of 52237
 
The island reversal only calls for a complete retracement of the previous move, but they can turn very nasty. MSFT also has a bearish broadening pattern that could carry it to the mid-high 50s (what some are calling a megaphone - look at the last 2-3 months of consolidation, how it is expanding; that's bearish).



To: moandlee who wrote (12372)7/22/2001 1:02:18 PM
From: James Strauss  Respond to of 52237
 
Island Reversal...
*********************
Here is an explanation and chart...
stockcharts.com

The retracement should at least close the up gap in the 66.00 to 67.00 area... A worst case scenario would take it down to support in the mid 50's...

Jim