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To: Alli who wrote (8460)8/28/1998 10:57:00 PM
From: Carlton G Glenn  Respond to of 9262
 
Hi Allison, You need someone more skilled than I to read this chart. It is not my style, to much downside risk... like climbing a tall mountain and then reaching out for a star..
Carl



To: Alli who wrote (8460)8/30/1998 10:55:00 AM
From: Michael R.  Respond to of 9262
 
[NM] Hi Alli,
I haven't looked at the fundamentals, but technically, I think this is an interesting chart.
The stock had dropped to a support level at around 3.875 on Aug 26.
That day's candlestick was a "piercing line" which is a reversal pattern. The next day was a hammer, A Takuri line, in fact, which also suggests a bottom reversal. One can argue that Aug 28th's black candle forms a tweezer bottom, another bottom reversal pattern.
The low on the 26th is also at a fibonacci retracement level from the high on Aug 20 and the low on June 29th.
Michael