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

To: bert100 who wrote (1515)	8/17/1998 5:06:00 PM
From: Loren	Respond to of 4140

Bert - A 'bullish hammer' is characterized by the following... 1. The stock is driven down, down, down during the day, hence the long line in the pattern. 2. The stock then rallies back and closes near to OR above the open for the day, hence the small body (today's was open/white). 3. The open and close prices are near to the high, hence the hammer shape. What happened to SNRS today was that the bears tried to wreck the stock, and were successful for a short while, but the bulls were able to push the stock back to and OVER the open, for an up day. This can be a pretty bullish sign! However, I don't know of any technicians who would use this pattern to try to predict a target price. In fact, not many technicians who are worth their salt try to predict target prices at all. Maybe resistance levels, but not target prices. They just ride the wave, and enjoy the view! Assuming people are still interested, I'll download my quotes and give another update on my charts as soon as I get the chance. My guess from eyeballing last week's chart (weekly data) is that we're getting pretty close to a new 'buy' signal. Loren

To: bert100 who wrote (1515)	8/17/1998 5:29:00 PM
From: majormember	Read Replies (2) \| Respond to of 4140

<since I read the report that Granny wrote> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Bert, I was going to repost the explanation of "Hammer" that Rainier made, but Loren gave a wonderful explanation instead. I'm sure you meant no harm, but NANNY made that magnificent post you read. Nanny may also be a Granny, but I'm sure she (and I) would prefer you refer to her by her posting name, which by now you know is Nanny. This may sound like nitpicking, but for me I want to remember her as that beautiful, buxom blond Nanny. Granny just doesn't work when I try to capture her memory. BTW, Nanny, if you're out there....Hi, I miss you. Hope you're feeling well and always remember, as good as this thread gets, it will never be the same without our Nanny. Best wishes, Skane