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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: majormember who wrote (537)	4/1/1998 12:12:00 AM
From: HeyRainier	Read Replies (1) \| Respond to of 1720

[ Sunrise Technologies: SNRS ] A correction? At this stage in the stock's price, I would express some caution. The stock is indeed very strong, but today's price action could dampen the near term advance: the stock price, in candlestick terms, has experienced a bearish Shooting Star-like pattern. For an explanation, please refer to the following link: scifi.co.uk I will always express some caution when I see these patterns; in my experience, they usually can lead to a brief dampening of an advance (i.e. sideways trading), or a downright decline if the advance in the issue was due to speculative accumulation by short term players. For SNRS, there was a similar reaction on 3/17/98 and 3/24/98 (though not as close to the rigid definition of the pattern). On 3/31/98, it has done it again. (Thinking outloud: is there a pattern to the 7 day cycle here?) I hope the added perspective helps. Regards, Rainier