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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: IHateSourCream who wrote (4810)2/10/2005 1:31:21 PM
From: Vendit™  Read Replies (1) | Respond to of 8752
 
Hi IHSC and welcome to the thread,

The seasoned traders on this thread may want to go ahead and skip to the next post! :-) In the (excellent) charts that you provide, what is the difference between the black markers (are these the candlesticks to which there has been reference?)

Black candlesticks indicate that a stock closed lower than its opening price. (Bearish)

White candlesticks indicate that a stock closed higher than its opening price. (Bullish)

I’ll do the T/A on YHOO for you in a bit unless Terry beats me to it.

Reid



To: IHateSourCream who wrote (4810)2/10/2005 6:11:45 PM
From: Vendit™  Read Replies (2) | Respond to of 8752
 
IHSC

YHOO looks like it made a bottom reversal chart pattern today for several reasons.

139.142.147.218

In the above chart I tuned the stochastic oscillator to fast. This allows me to see tiny movements in the prices on the main chart above. Note the stochastic lines are now in the 20 area on the scale and you now have a confirmed BUY signal in place.

Secondly look at the candlestick that formed today. Its shape is like that of a loli-pop. Its true name is a “hammer” and you will see it several times along the chart where bottoms formed and stochastic lines crossed similarly.
Lastly Williams %R is pointing up which is another confirming buy signal.

This all points to a pop up in the morning and a trend reversal over the next several sessions IF THE MARKET MOVES IN THE SAME DIRECTION, UP.

This is my technical opinion.

Reid



To: IHateSourCream who wrote (4810)2/10/2005 8:23:31 PM
From: Walkingshadow  Read Replies (1) | Respond to of 8752
 
Yes, welcome.

I think you'll find lots available to you here, and we have no axe to grind. We basically just help one another and share whatever we can freely.

Basic questions are always most welcome. Nobody will make fun of you here, none of us was born knowing how to read charts---we had to learn just the same as you or anybody else. None of us are gurus either---we make mistakes too!

T


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