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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (1105)	1/17/1998 10:56:00 AM
From: ted birnbaum	Read Replies (1) \| Respond to of 1589

I hear you on the bottom volume spike. It was a day late and yes there was some news on the 15th and also on the 16th, on the 15th DLJ upgraded them from BUY to BUY and on the focus list, on the 16th Alex Brown started coverage as a BUY. I do believe that it will trade sideways a few days possibly even down to 9 3/4 but I think it will show support there. Looking at the weekly charts PAGE was in a serious downtrend from July 96 through Apr 97 whre it reversed and started an uptrend. This Uptrend lasted untill late Oct where a spike down was followed by Sideways trading untill mid Dec where another downtrend started. I beleive that the downtrend was broken on Jan 14 but probably needs to test down to 9 3/4 or so one more time. It is interesting to note that 10 appears to be support/resist from early 1993, and 1994. Looking at a monthly chart shows it well. The monthly chart also shows a recovery in process from the Oct 97 dive. If it fails holding 10 then next support is at 7.50. There will be minor resistance at 12.5 then the next major support/resist is at 15. My target is 15 by late FEB.