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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?


To: majormember who wrote (1443)8/10/1998 9:35:00 PM
From: Loren  Read Replies (1) | Respond to of 4140
 
Here's an alternative TA look, for anyone interested...

Weekly chart (longer-term traders)
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MACD histogram is rising...
DMI has just broken above zero today...
ADX is down, showing breakdown of downtrend...

Interpretation: Stock is accelerating upward, but has not established a true uptrend yet.

Daily chart (shorter-term traders)
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Major resistance point at 8.0... could bounce off, and retrace some of the gain of today... or could pop through... if it breaks through the 8.0 resistance level, may find minor resistance levels at 8.5 and 9.0. There will probably be lots of traders that will buy in if it breaks through 8.0.

Since I do all my trades based on weekly data, I'm not buying just yet... I'll probably leave some money on the table, but waiting for ADX to go up (showing a true trend) increases my % accuracy, and accuracy is THE difference between a winning system and a losing system.

IMHO...

Loren



To: majormember who wrote (1443)8/11/1998 8:38:00 PM
From: MJB8743  Read Replies (1) | Respond to of 4140
 
I just spent some time browsing the TATRADER thread. Very interesting, but I have a concern about reliability.
Skane, is this the SAME Mark Schultz of Individual Investor fame? If so, I'm disappointed, as that 'gentleman' burned a lot of people with his "pump 'n dump" column. My own early hard lessons were learned from following his published advice, and I'm still recovering. On some SI threads, just mention the name "Mark Schultz" and the reaction is violent. My first instinct is to RUN, -not walk- away from any stock he mentions as worthy...IF he's the same guy.

Long on SNRS, and cautious about strangers
Mickie