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Nice charts. Highly educative and "yep, both are downers".
On the LU the EMA50(Direction-indicator) is pointing Down.
On the LU there is also a "Descending Triangle In A Downtrend(=bearish)".
On the CPQ the EMA50(Direction-indicator) is trending Down, pointing Sideways.
On the CPQ there is also a "Symetrical Triangle In A Downtrend(=bearish)".
On the CPQ there is also an "Irregular H+Ss Bearish Reversal Pattern(=bearish)"
LU
DT Hight=12(83-71) , DT Fallout Target=59(71-12)
H+Ss Hight=36(108-72) , H+Ss Fallout Target=36(72-36)
CPQ
Rising Wedge
RW Hight=5.50(32.50-27) , RW Fallout Target=26(31.50-5.50)
ST Hight=10.50(37.50-27) , ST Fallout Target=16.50(27-10.50)
H+Ss Hight=Under Construction/mom.est. 10(38.50-28.50) , H+Ss Fallout Target=18.50(28.50-10)
Keep on postin', informing and educating.
Do candlesticks have a way to measure/set targets?
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
-----Oorspronkelijk bericht-----
Van: Steve Gochuico <stevego@xxxxxxxxxxxxxxx>
Aan: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Datum: vrijdag 2 oktober 1998 10:04
Onderwerp: Interesting Charts
>Hello everyone. I have some interesting charts to show you
>guys and I hope it would stimulate some discussion on T.A.
>My analysis is far from perfect. I could be wrong. Therefore,
>it would be prudent to employ stop loss if we would initiate
>a short sell order. Ok, I'd like to discuss two charts:
>
>CPQ-I beleive this stock has given us a strong sell signal based on
>a break of our last drawn trendline, a cross below the 50 day ema and
>the 200 day ema. The last bar was a gap down bar. Just some classic
>TA analysis, nothing fancy. The september price formation looks like
>a rising wedge with a break on the downside.
>
>LU-This one arguably looks like a classic S-H-S formation. Our sell
>signal comes from the strong break of the neckline on surging volume.
>Plus, we also have a cross below the 200 day ema. Interestingly, the
>200 day ema is also located near the broken neckline which makes
>me feel more confident that my sell analysis is correct. The
>candlestick pattern three bars ago is a bearish engulfing. The last
>three bars looks like three black crows bearish pattern.
>
>There are other stocks that are breaking their short-term trendline
>and are very good shorting opportunities. If I have more cash to put
>up as margin, the ff. stocks looks like good shorting candidates: MU,
>NETA, AOL, CSCO, QCOM, TRV, VOD, SUNW, SBUX, BA and TXN. I'd love to
>include the ff. stocks in our analysis but I won't because it would
>clog the listserve with too many gif files. Maybe two charts wouldn't
>be too much.
>
>I would really like to see others post their own analysis of charts
>of stocks or commodities. I'd like to compare their analysis with
>my own. I might learn a thing or two also. I'm posting these charts
>because I was wondering why there's very little chart analysis that
>I see in this forum aside from the weekly stock picks of Jim G. So,
>I guess I'll start with myself and contribute something.
>
>Steve Gochuico
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