Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (7477)	11/11/1997 12:21:00 PM
From: James Strauss	Respond to of 79378

AMAT... Brian: It looks like it will test a possible double bottom in the 31.00 area... If it doesn't bounce from there, it has support at 30.00, and then 26.00 to 27.00... The key is whether it bounces up after it closes around 31.00... Jim

To: Proud_Infidel who wrote (7477)	11/11/1997 12:47:00 PM
From: Esteban	Respond to of 79378

Brian, I follow AMAT and trade in and out of it occasionally. I'm looking for an entry around 30, but not because of any HS pattern. I haven't heard that hypothesis before, nor do I see that pattern in INTC or AMAT. I like both the horizontal and diagonal support in this area, and the double bottom it is making here. There's more support in the 25 area, so be careful. Double bottoms have a way of turning into nice downtrend legs if you don't wait for some consolidation or strength there. I also like the fact that there's been two strong down waves already. Did I mention that I like the company, and that there's been an over reaction to the the effects of the Asia currency devaluations on their prospects. I'm hoping that the bad news for semi equips is now in the price, but you never know. BTW, I'm no TA expert. I'm familiar with chart patterns and price trendline analysis, but haven't mastered indicators. Maybe some of the real experts on the thread will look at it. Esteban

To: Proud_Infidel who wrote (7477)	11/11/1997 12:51:00 PM
From: Esteban	Respond to of 79378

Brian, James Strauss counts as an expert. I see he answered you also. EOM

To: Proud_Infidel who wrote (7477)	11/11/1997 9:38:00 PM
From: Ken W	Read Replies (1) \| Respond to of 79378

Brian, Thanks for the question. Doug, James S., Myron or Ivan would be a better person to ask. A reverse head and shoulders pattern is a bullish signal so long as there is not too much dispairity between the shoulders. Once the pattern is complete and the price of the stock rises above the right side of the neck line it will probabaly continue up. The neck line is a reasonably straight line across the bounce in the middle of the (what looks somewhat like a "W". Hope this helps and I havn't overstepped my bounds. Ken W