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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: Casaubon who wrote (842)	10/2/2005 10:34:12 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

advanced block pattern... Ill have to look that one up. Looks like a nice chart. You dont think thats a inverted hammer? ie shooting star like ie for fridays candle

To: Casaubon who wrote (842)	10/3/2005 5:56:38 PM
From: Casaubon	Read Replies (1) \| Respond to of 967

stockcharts.com[h,a]daclyyay[dc][pb50!b200][vc60][iUb14!Li14,3]&pref=G that is most definately an advance block pattern! It doesn't mean the stock (or the company) is trash. It doesn't even mean that the stock price will reverse. And it definately doesn't imply that the stock price will plummet! What it does imply is that upward price movement may be stalled, and this may be a zone where profit taking enters the picture. People should look for the stock to build a base to determine entry points. By the way, it is even possible for the stock to drift somewhat higher from here, but, expect such price action to be short lived, IMO. At this point, I am looking for signs of reversal to the downside with objective of acquiring shares at the low of a new base.