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

To: Bruce Cullen who wrote (17161)	5/19/1998 12:44:00 PM
From: Dave H	Respond to of 79371

Bruce, Ok, I adjusted for the dividend. ORG is still not a buy in my book -- it has fallen off the current uptrend and the next trendline support is in the 23 1/2 area using the lows made on 1/28/98 & 2/26/98. TC2000 moneystream is divergent with price and isn't supporting anymore upward movement. TC2000 BOP also is showing selling over the last couple weeks. While the longer term stochastics (144,13,8 & 89,3,5) are still strong, the 13,8,8 stochastics are breaking down, and looking at the shorter term stochastics, they are near bottom but not quite there yet. 13 day RSI is also downtrending. The very short stuff is pretty oversold so there could be a minor technical bounce (actually, I just checked today's action and it looks like that bounce is happening today), but I would like to see ORG confirm the support line I mentioned above before considering establishing a long position. Two downtrend lines were established from the highs on 4/24 & 5/8 [currently at around 32 1/4] and the highs on 5/8 & 5/13 [currently at around 31 1/2]. If this resistance can be taken out, ORG would be a better buy. -dave