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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (26822)	2/27/1999 2:57:00 AM
From: Doug R	Read Replies (1) \| Respond to of 79450

For seminar attendees, One observation of mine that I have mentioned either during the round table sessions or directly in the seminar (depending on location) is that successful cup with handle formations most often find the bottom of the handle AT the top of the MIM. A look at the long term monthly chart of MCCL will show that the low of Sept '98 is exactly equal to the high of the MIM set in 8/91. Now, considering the long term nature of this dynamic as it pertains to MCCL, a long term horizon would be expected. A look at the handle activity on MCCL shows a break above the downtrend that the handle has gone through and a retest of that break. MCCL should begin a long term trend back to the all time high of 11 1/4 once again (as it did following the MIMBO from a price of 2 1/4). Since the handle has successfully retested the MIM and is trending back up, a cup with handle breakout would now have a high degree of probability. That would put a 14 to 16 month target on MCCL of approximately $19 per share. The time frame involved makes it an "investment" but there would also be plenty of time for anyone interested to begin some serious DD into this issue if one were inclined to investigate such a stock. Doug R