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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: sammy levy who wrote (4991)	3/10/1998 8:40:00 AM
From: TATRADER	Read Replies (2) \| Respond to of 7396

MPDI, Sammy it looks to me more like a pennant, which is a cousin of a flag...Basically a flag looks like a rectangle when you draw the two lines, while a pennant you can make a symmetrical triangle out of it.. As I drew my lines from the pole, I got a triangle pattern, so I would label it as a pennant...Same significance as a flag...It is orderly profit taking going on...The stock is in a trading range right now from 5.56 to 6.86....It looks like value hunters came in at 5.62 a while back..If I believed in the company I would be a buyer in the 5.62 area or on a break over 7.00...Pattern is technically 5 by 7... So if we break 7, you can probably drain 2 points out of it... Mark