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

To: Alski who wrote (16447)	5/7/1998 8:09:00 AM
From: Dave H	Read Replies (1) \| Respond to of 79371

Alski, NOBH-- The reason I first looked at the chart was because it came up on my sequential scan; it just completed a sell sequential yesterday. At this point, NOBH might take off to the upside, and it has a lot of technical strength to do so -- long term & intermediate stochastics look great, the 13,8,8 stochs just turned around again...RSI is very strong...MACD just crossed over... so, I wouldn't say short it right this moment. However, I see some good downside potential IF it breaks the current uptrend. The only good reason why I think it has a chance to do so is because when I look at volume, it seems to have declined a lot since the big surge in feb. plus, it is short term overbought, but that could work to it's advantage and push it up even higher. (The best moves happen in overbought territory, since by definition, there aren't as many shares around since there has been a lot buying already, so if everyone suddenly wants some it will make price go even higher) I think the next couple days will either confirm the current breakout, or prove to be a failed BO. And if it does break down, the downside potential is at least to the 13 level (horizontal support) if not the 9 area (trendline + horiz. support). -dave