Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MP - Market Pulse -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (977)	7/31/2001 9:36:48 AM
From: HairBall	Respond to of 1328

mishedlo: ANF broke to the right of a rising wedge originating from Dec 00 back in June. An even larger wedge pattern can be seen originating from the May 00 low with the resistance line plotted using the Aug and Nov 00 highs. You should note that the recent high took place as the price action tagged the resistance line (upper line) of the May 00 rising wedge in May 01. I would look for a test of the May 01 gap-up. The 38.2% Fib retrace (of the Dec 00 move up) area is sandwiched in the May 01 gap-up. BBBY has been trading in an extremely long rising wedge since Mar 00. A retrace from current highs of the wedge would require a break below the 23.6% Fib retrace area of (28.53) just to test the support line. A break below the support line beginning a "true" retrace should at least yield a test of the 38.2% Fib retrace area (25.18). Note: All referenced chart plots are semi-log scale. Regards, LG