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: Greg Butcher who wrote (8233)	11/22/1997 9:22:00 PM
From: Doug R	Respond to of 79537

Greg, I think the candle on ANDW is actually a shooting star. Not good at all. The price also pierced the upper bollinger band while the overall BB's are in a downtrend. As for head and shoulders stuff, draw a line from the low on 6/17/97 across and beyond the low on 9/22/97. That is the neckline of a head and shoulders that ANDW broke below. The current activity can be seen as a retest of the breakdown as ANDW tries to overcome that line. Now draw a line from the high on 10/8/97 across and beyond the high on 10/13/97. That downtrend was tested but ANDW failed to close above that line. DEC is attempting a breakout of a mondo downtrend and the volume is supportive of a successful breakout but there will likely be a retest after an initial run up. The period from the gap up on 10/6 to today is an inverted head and shoulders the right shoulder of which set up a downtrend that was just broken out of on Friday, on heavy volume at the same time that the mondo downtrend line was broken to the upside. We'll know soon. It's nice discussing these two stocks with you. It keeps me in practice. Doug R