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

To: bazan who wrote (16587)	5/8/1998 9:03:00 AM
From: Dave H	Read Replies (2) \| Respond to of 79669

bazan, RADAF's uptrending support line which started in May/June '97, and was confirmed both during the october correction and on 1/16/98, is currently at around 17 1/8 and moving up at a rate of a little more than a 1/4 point a week. RADAF might not move down, but if it does, I'd expect it to find support on this line. In terms of the TA, there does seem to be some support for a move down -- short term stochastics (3,3,2 & 4,3,2) are heading down out of overbought territory, and the 13,8,8 stochs also look weak at the moment. RSI looks mostly to be in neutral territory, and very short term (3 & 5 day) are heading down. TC2000 BOP & Moneyflow also don't show any buying strength and at best are neutral. Given the neutral to slightly negative short term technical profile, I'd say RADAF probably has one more move down to its longstanding support line before moving back up, but definitely keep watch for an upside move as anything is possible and longer term indicators still show RADAF with a lot of technical strength. -dave