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Strategies & Market Trends : American Woodmark AMWD -- Ignore unavailable to you. Want to Upgrade?

To: Jim Rokosh who wrote (68)	11/8/1997 7:38:00 AM
From: King Louie	Read Replies (1) \| Respond to of 84

Hi ya Jim, Saw your post on the DCTC thread. I can see you are a wise investor with these two stocks in your portfolio. I've tried to find out more about the posibility of any insider selling with AMWD, but I'm coming up empty. If you've got more details I'd be interested in hearing more about it. My projection is based on a chart pattern called an ascending triangle or what's more commonly known as a "cup and handle" formation. AMWD broke out above this formation in late Sept. at around 17 and this area is now a strong level of support. The rule of thumb is the stock will move up as far as the depth of the "cup" in the chart formation. The depth of the cup was around 10 3/4 and the top of the pattern at 17. This projects a 6 1/4 point move to 23 1/4, but most stocks follow a more logarithmic scale. When charted on a logarithmic scale the projected move should be closer to 26. Now, if any of this mumbo jumbo really worked as well as it should, we'd all be billionaires. It's still fun to analyse these patterns, since they so often repeat themselves during the life of a stock. Jim, good luck to you here and with that other stock<ggggggg> KL