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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 (8818)	12/5/1997 12:38:00 AM
From: Dave H	Read Replies (1) \| Respond to of 79308

No problem ken. The question now for USBG is where it can find support AND remain above the downtrend line it just broke out of. Today's action found the significant support level of 1.25 -- significant because the stock used this as resistence throught august and then support throughout september, so it is pretty well established. Of course, this is below the downtrend line it just broke from, so it looks like USBG might be in for one more retest before final breakout can occur. Note: the downtrend line intersects the 1.25 support line in 2-3 days; if the stock can remain above 1.25during that time, i would say it has a good chance to start uptrending again. not sure how long 1.5 will act as resistence; and 1.75 looks to be the next resistence level after that, confirmed by today's high. i expect usbg to retest support at 1.25 for the next few days. of course, given the huge volatility in price right now, it's pretty ahrd to predict. but 1.25 seems to be a reasonable support level right now. -dave