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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?


To: Chip Anderson who wrote (40660)11/19/1997 1:39:00 PM
From: K. Bloomquist  Read Replies (2) | Respond to of 186894
 
The pattern that matches the Fri. Mon. Tues action that you accurately described is an Upside Tasuki Gap. I was surprised to see a bullish pattern after Tues but the logic seems to be that some sellers were flushed out Tues but not enough to send the price below the Fri close - therefore still a bullish pattern. I don't think it's an evening star because the Tues close was above the Fri close. Anyway I appreciate your comments as I trying to learn more. Intc is hanging tough today (at least the last time I looked) so maybe there will be something to this.



To: Chip Anderson who wrote (40660)11/19/1997 1:57:00 PM
From: JPR  Read Replies (1) | Respond to of 186894
 
Hello Chip and K.Bloomquist

Hi:

These are the criteria for an Evening Star:
1: Three candlestick pattern
2: Sequentially, the candlesticks are 1: white, 2: white or doji
and 3:black
3: 2nd candlestick may or may not gap up. The bodies of the
1st and 2nd are not "touching" or overlapping.
The second body is always higher than the 1st body
4: 3rd candlestick is black and the body overlaps with the
1st one
5: The formation is an upside-down symmetric or asymmetric
U pattern , so far the limbs of the U are concerned.
The first ascending limb is a white body, the top is
formed by a real small white body or a Doji and the
third or the descending limb is a black body that lines
up with the 1st one , not necessarily completely.

By applying these criteria to the last 4 candlesticks
Thursday, Friday, Monday, Tuesday ( 13, 14, 17, 18th),
I don't see any evening star or even a suggestion.

I +
I I I I

I could not construct the patterns as well as I wanted.
With the Doji on the top of the pattern,it is called
an Evening Doji Star.

With regards,

Paul



To: Chip Anderson who wrote (40660)11/20/1997 2:26:00 AM
From: Rarebird  Read Replies (2) | Respond to of 186894
 
From a purely technical short term point of view, Intel bounced off its 200 day moving average on Monday at 81. All this means is that Intel was not yet ready to establish a new bullish trend or upleg. What matters most, however, is that this company is still an ALL-POWERFUL Franchise. These markets turn on a dime and so will Intel's stock price: considerably HIGHER! Be patient.