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

To: majormember who wrote (12904)	2/28/1998 8:17:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79519

Skane, It appears that SNRS is about to go into a possibly lengthy basing period. A technical signal to take short-term profit was elicited Fri. No other sell signals are evident so the base could be shorter lived than I would expect. A low of 3 1/8 could occur during a lengthy base. Uptrends in the 7, 3, 10 stochastics could be used as signal areas. If an uptrending neckline of a head and shoulders is broken, the current 7, 3, 10 uptrend will then be tested. If that is broken, the base will be a long one. If the neckline provides support, the base could be a short one. The 3 day RSI is not very supportive at this point so this indicator points to a lengthy base. The 34 day RSI is right on support and if it breaks, that would also lead to 3 1/8. The 2, 1, 2 stochastics look hopeful but may not stop a little more downturn in price. I see nothing that says the price will turn around right away (the 89 day MA/MLR looks darn good though) but there is no real "crash" signalled yet. It's back to the point where 1 or 3 more days of data are needed. sheesh. Doug R PS; eventual listing as a Nasdaq smallcap will become more visible in the TA if that is seen as more than likely by investors. So far, I don't see it in there.