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

To: profile_14 who wrote (7519)	1/29/2006 4:55:36 PM
From: chowder	Respond to of 13449

Re: $BVSP ... The daily candle is a shooting star. The topping tail suggests we could see some consolidation. Shooting Star ... Pattern: reversal Reliability: low/moderate Identification: A small body forms at the lower end of the trading range. The upper shadow is usually long while the lower shadow is small or almost nonexistent. The Psychology: In an uptrend or within a bounce of a downtrend, the stock gaps up. A valid attempt is made to rally the stock, but the strength subsides and the stock falls to close near the day's low and near its opening price. Failure to follow through with strength suggests the bulls may be losing strength. Although this is not necessarily extremely bearish, it is less bullish, so stops should be moved up or profits taken on longs. For a reversal to occur a weak day is needed to confirm the pattern. This link will show some chart examples of the shooting star. leavittbrothers.com The rising 10 day moving average has shown to be a very good support level on price corrections. stockcharts.com[h,a]daclyiay[d20051027,20060127][pb10!b20][vc60][iut]&pref=G dabum