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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Sidney Reilly who wrote (41723)	11/28/2002 10:41:28 AM
From: Doug R	Read Replies (1) \| Respond to of 79193

Sidney, There's 2 possible reverse H&S formations on the TCP chart. One has a left shoulder bottoming on 7/31, the head seen as the double bottomish activity from 9/30 and 10/14, with the right shoulder bottoming on 11/13. This interpretation shows a downtrending neckline across the 8/30 and 11/4 highs. A conventional measuring technique suggests a move up to about 4.25 should the stock get going in that direction. Within that context there is a smaller formation with a left shoulder low on 11/6, the head bottoming on 11/13 (among a four bar island bottom kind of activity), with the right shoulder possibly having bottomed 11/26 and 11/27. A good confirmation for the target of 4.25 on the larger formation would be seen on a break over the neckline of the smaller one. This neckline is across the 11/4 and 11/18 highs. Entry would come around 2.95 to 3.00 with a 40% trade possible. Doug R