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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: XiaoYao who wrote (6048)	11/3/2005 8:17:15 PM
From: chowder	Read Replies (1) \| Respond to of 13449

If we go back and look at yesterday's chart pattern, we will see an inverted hammer type pattern. The stock rallied as the bulls pushed price higher, they ran out of steam and the bears took control of the price action. Hence a long tail on top of yesterday's candlestick pattern. This pattern appeared as price was trying to break out to a new high. You will often see price pull back with this type of candle so, the next step is to look for support. In this case, a rising 20 day moving average should serve as support. stockcharts.com[h,a]daclyiay[d20050803,20051102][pb50!b20!f][vc60][iut]&pref=G If support doesn't hold, you'll know to get out. Here is today's chart. stockcharts.com[h,a]daclyiay[d20050803,20051103][pb50!b20!f][vc60][iut]&pref=G dabum