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

To: majormember who wrote (3563)	10/5/1998 9:27:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 59879

NDE Two patterns...Rectangles Larger pattern is 27 by 22 giving a difference of 5... Multiply 5 by 1.62(Fibonacci ratio), and you get 8.10 Subtract 8.10 from neckline at 22, you get a downside target of 14.00...It hit the target today... Second pattern, smaller rectangle of 22 by 19...Difference of 3.... Multiply 3 by 1.62=4.86...Subtract 4.86 from neckline at 19 and you get target of 14.14..... It is amazing how accurate TA is....Since the stock hit the target areas already, I would not risk entry into this stock at this point..The potential to remain for some time in the new rectangle from 14 to 19 is great....However, if 14 is violated, the new downward support area, my next downside target would be 11.50....Regards, Mark