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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Miller who wrote (8469)	7/17/1998 12:50:00 AM
From: TechTrader42	Read Replies (1) \| Respond to of 12039

Is it my imagination or do all of the teachnical analasys point up? I presume you're holding the chart upside down. Brooke

To: Daniel Miller who wrote (8469)	7/17/1998 5:43:00 PM
From: TechTrader42	Read Replies (1) \| Respond to of 12039

No, could you check it out. Maybe big charts is messed up and is showing everything upside down. The point is that it's in a downtrend, and yet you said everything was pointing up. Is the price line pointing up? Perhaps if you suspend yourself from the rafters it is. (And people who got into this stock last year might well choose to suspend themselves from the rafters.) It's true that it bounced off support a few days ago, but the longer-term trend has been down. Some shorter-term technical indicators such as StochRSI and CCI have turned back up, but overall, the stock doesn't look all that encouraging. Maybe if it breaks through resistance at around 8 3/8, the picture would brighten. But look at the low volume. Today, 300 shares were traded. Why don't you look for something more heavily traded? Of course, sometimes low volume precedes a move up, so whaddo I know? Nothing's certain in this cruel world of trading. Still, AIJ doesn't look like something that's going to make your fortune. At least you found one with a lower float. Now look for one with higher average monthly volume. Where -- or how -- on Earth did you find AIJ? Not, evidently, in a place where traders congregate. Even trading 300 shares seems to have been a chore for the wily market makers today. Disclaimer: I don't know nuttin', so don't listen to me. And don't take no double negatives literally. Brooke