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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Raymond James Norris who wrote (867)	6/13/1998 9:35:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 59879

Raymond,HDIE, I always like someone to challenge me, because we both can learn from each other... Yes, you can argue an ascending triangle...As you know it is recognized by higher lows, and highs that occur at the same price level due to resistance....I measure the ascending triangle at 3.75(neckline) by 3.25...Giving a target of 4.25 on the pop.... However, I think a better pattern that can be seen here is a rectangle...The top of the rectangle is at 4.25(my resistance area) and the bottom of the rectangle at 3.25...I use the rectangle pattern here because the ADX is weak at 15...It didn't budge on Friday but stayed at 15 even though the price was up...That makes me suspicious of this move at the upper ends of resistance..ADX should have moved to at least 16 if not 17 on Friday... Right now, you can use the Bollinger Band trading range for this stock..It gives us 4.12 on the upside and 3.75 on the downside... I have my entry price at 4 5/16 on the bid...I will not bite until we have a legitimate breakout.. You have a few things in your favor...The 6 and 10 day historical volatility is 50% below the 100 day...That foreshadows a pop, and since the stock has been moving up the pop should be north...Further, the MACD Histogram and Pring KST crossed the zero line on Friday..RS is still fine at 64, after recently moving above 50, ..Smoothed rate of change halted its downward descent on Friday.. As far as overhead is concerned, I don't give that information out to anyone...It is my bread and butter at making money in the market... I will admit that sometimes when a stock stays in a tight level for a period of time it can sneak through my overhead projections, and make me look like an idiot......But more than often I am correct...All I want is to be right 60% and wrong 40% of the time...Good luck, some may argue that your simple stochastic is saying you are overbought..It is giving a reading of 90... My prediction is that this stock makes an attempt to take out 4.25 and fails....But if you can generate a few days of 500,000+ volume, you may be bidding this overhead goodbye....It looks to me like a small crew of investors is trying to start a rally...Maybe you will get the snowball rolling, but I stand aside... My gizzard Pick that I entered at 1.62 recently is GATE...I am looking for a move at 2.50 within the next 30 days...Take care, Mark