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

To: Ocote who wrote (9717)	12/28/1997 5:07:00 PM
From: Doug R	Respond to of 79296

LOL!!!

To: Ocote who wrote (9717)	12/28/1997 10:26:00 PM
From: Dave H	Read Replies (2) \| Respond to of 79296

Ok, here's some TA on the top half: OISI -- looks quite overbought right now and almost certainly will have to find support, most probably in the 1 - 1 1/8 area. This stock has never seen a weekly volume like last week in it's entire 5 year history; and in that time the stock moved from 1.03 to 1.59 -- a 50% gain in one week. The stock had a failed turnaround in 1996; I'd exercise caution with this one. CMED -- Now this one's more interesting. We've got a HTF in may/june that developed into an ascending right triangle in june-> september and right now a cup w/handle formation is in the handle phase that started in september. Judging from the 89,3,5 stochastics levels, there's still more work to be done before another serious breakout will happen. The shorter term stochastics aren't yet in alignment and this would support some more basing here. I don't see anything major happening here this week. I'd expect a return the 6 1/2 level before a real breakout from the pattern can occur. NVAL -- As Doug mentioned, NVAL was in a stairstep pattern and has set up a potenital inverse H&S breakout. The stochastics are gaining a lot of strength and the 89,3,5 stochastics are right at the bullish level of 80. Crossover occurred on 12/16 at around 70, but it looks like another crossover is getting ready to be set up. NVAL is currently in an uptrend with support at around 5 1/2 -- I could see NVAL testing this line once more this week at which point it could be heading for a serious breakout. This one should be watched this week though, since the shorter term stochastics are looking strong and might end up going this week. If this one starts moving on heavy volume any day this week, I think there should be a nice move. CTCQ -- major downtrend since mid 1996. No sign of breaking this one; major resistance from this downtrend at around 5 1/2. If/when it breaks 5 1/2, it might be worth another look. ARTG -- This one looks like a MIMBO to me that just broke out from retesting this week. expect major resistance at the 5 7/8 - 6 level. If/When 6 is taken out on strong volume, we're probably looking at 12 as the next stop, then 18. Keep a close eye on this one. CRNR -- chart shows some major resistance at 6 1/2 both in form of horizontal resistance and a downtrend line. I see this one still in a downtrend of sorts and not much in the TA to drive it. Long & Intermediate term stochastics are pretty low and need a lot more work before they will be near bullish levels again. WSMP -- this one's a tough one. maybe doug can look at the chart; I think this one's violated it's IL and we could be looking at a major fall. The stochastics on this one are at incredibly high levels, but have been for quite a while....doug? whew, well overall I'd say the best looking ones are NVAL and ARTG. -dave