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

To: Ken W who wrote (8766)	12/4/1997 8:04:00 AM
From: Dave H	Read Replies (2) \| Respond to of 79308

USBG.... Looks to me like USBG has just spent the last three days breaking out of a long term downtrending line that connects the highs from 11/20/96, 5/28/97, 9/22/97, and 11/11/97 The heavy volume signals to me that this is a significant breakout. There is resistance at the current level of 1 1/2 -- if the stock can close above this level with another show of strong volume, that would probably be a good confirmation of the breakout. In terms of the TA, there's a good uptrend forming: moneystream looks positive, MACD is positive, the 13,8,8 stochastics is sharply increasing but still has room to lead a further price increase. One thing that catches my eye: the last low of the 13,8,8 stochastics on ~11/26/97 is higher than the prior low to that on ~10/23/97, even though price dropped lower in that same time frame. To me, this indicates the technicals are showing a lot more strength than was immediately evident in price. The current price/volume moves are confirming that strength. For TC2000 custom indicators, both BOP & moneystream are positive....TSV values are sharply up, in fact perhaps too high -- they seem all at the top of their range right now. I expect a slight pullback, and perhaps even a short retest of the breakout. But it really looks like this one is all set to take off. At that point I would expect the stock to find 1.5 as a new support level and start it's climb from there. the high from 11/20/96 was 3.0.... Maybe Myron & Doug can take a look at this one, I'd be interested in their thoughts. Nice find Ken! -dave