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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: TLindt who wrote (36)	2/3/1998 3:53:00 PM
From: Wayners	Respond to of 927

The trend is up which is definitely a positive. $24 looks like support and $26 looks like resistance. There's a price volume divergence between yesterday and today, so I don't expect it to breeze through $26. I would expect a retracement back to support. If it breaks significantly through $24 I'd head for the exit. 5 day stochastics are up at the 80 zone too, so that helps the retracement part. As long as the trend stays positive by it staying above $24 and as long as you can stomach some volatility back down to the $24 level--stick with it. If you are a real short term flipper, sell as close to $26 as you can and rebuy it at $24.