To: Cube who wrote (5462 ) 5/10/1998 11:44:00 AM From: stan s. Read Replies (1) | Respond to of 7054
ACRT....ready to pop again? Could be... ACRT...in this first chart, you can see the security contiues to move nicely following the dictates of the green trendline.geocities.com This is exactly what you want....higher troughs et al. Even in weakness after the "step ups" it merely tests the supporting trendline and then proceeds with another surge. A very common....yet satisfying pattern...profitable as well. As you can see it now moves above it's 50 day moving average. Full health will be attained (technically speaking) as is passes above it's 200 day moving average around 18. By the way, notice the security has just pulled above it's 6 day weighted moving average (cyan line). This is one of my favorite buy signals when CONFIRMED by other indicators. Note the results when that has happened in the past. A slightly more conservative tact would be to enter as the cyan crosses above the magenta (10 day weighted) with confirmation. Both of the aforementioned signals are "early" signals...as are all the momentum signals....so take heed....they can be false starts. I mention them from a trader's standpoint. ACRT chart....a follow up to a chart I posted last week. Notice the results....usually rapid....when the Projection oscillator crosses above the trigger line. Quite effective even during the downturn.geocities.com As I mentioned this is NOT one of my favorite indicators, I do find it worthy of note in this case. By the way the "trigger line" in the top box is of my own making, not a recognized indicator. This next chart tends to confirm the previous chart, by showing what the results have been when the momentum indicators pull up in unison from oversold...as is happening now. Just follow the blue vertical lines down.geocities.com 10 day CCI,Williams%R, 5,3,3 Stochastics and a juiced up 3 day RSI. Just a note of warning.....the fact that these indicators have led the price with consistency of late, does not guarantee they will this time. False signals can occur. Another triangle pattern....again, most likely to be resolved in a violent movement with heavy volume....just as the recent Bollinger squeeze.geocities.com Some info on triangles etc.chartpatterns.com So, now what? Let's assume we get the indicated 3-5 point pop.... Is that enough to cause serious covering? Possibly not.....in which case I would anticipate a return to that ever rising trendline....which will be higher then, than it is now.... Assuming this trend continues....the following pop should carry us into the low 20's....it could get interesting...hmmmmm, actually it's kind of interesting now. Is that confusing??? I'm speaking of the pop after this one...assuming there is this one....whatever.... A general warning.....if you use TA at all...use it only as an adjunct to fundamental research....as an aid in entry and exit points. None of the above takes into account, general news or news specific to ACRT.... other than that which is naturally reflected in the chart. As inexorable as this climb appears right now....things can and do happen. Please take note of the Nasdaq charts. Good luck, Stan