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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Howard Hoffman who wrote (19893)	2/10/1999 2:15:00 AM
From: SkyDart	Read Replies (1) \| Respond to of 27307

I don't see a descending triangle because this would show a sequence of lower highs bouncing upward from a fixed price support level. If there were such a descending triangle, then you would be correct that it breaks out to the downside. Here we simply have a progressive drop in price. Not a descending triangle. Since we closed at the lows, I would agree there may be some further downside tomorrow. However, I am satisfied in getting in close to a short term bottom, without picking the exact low. Much more helpful to me than classical chart patterns are computerized technical analytic tools, particularly OBV, MACD, William%R and Price Rate of Change. These tend to be leading indicators while the classical techniques looking at triangles, wedges, and other patterns is more lagging than leading. If you look at the oversold readings on the Williams % R and the position of the MACD with low volume, an objective analysis of the data would show that there is much more upside potential now than downside. Remember the biggest mistake of traders is, "Getting too bearish when a stock has recently gone down and becoming too bullish when a stock has recently run up". The real risk here IMO is not with buying YHOO after it has retraced downward some 25 to 30% but in shorting YHOO after it has retraced. Dart