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

To: cavan who wrote (8488)	5/8/2005 12:09:20 PM
From: Vendit™	Respond to of 8752

Hi Cavan and welcome to the board. CGCP made a nice power move last Thursday as evidenced by the tall candlestick which tops at resistance in the chart linked below, February, March and April: 139.142.147.218 The candlestick that formed Friday shows profit takers stepping up which is normal after a nice pop up like that. Friday’s candle shape is called a hammer and is often found on short term tops. The lower oscillators also show that the stock is over-bought and now in the sell zone. Stochastic over 80 normally means that it is time to sell and you should wait until it cycles back under 20 before you consider another long entry. William’s %R hit the 0 on its scale and is now heading down. This is another early sell signal indicator. The bottom line is that you are seeing very early signs that a top is being formed and that upside potential is very limited from this point moving forward. Reid