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No charts to contribute but I have been following CPQ very closely for a while and can testify to a couple of things. MASSIVE support at 27, dont even THINK around this level, just buy. Set a buy stop perhaps. Also a market laggard in comparison to the competitors. Everyone loves Dell better. It doesn't matter it seems that you buy CPQ and get Digital thrown in for nothing!!
David Walton
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From: Steve Gochuico[SMTP:stevego@xxxxxxxxxxxxxxx]
Sent: Friday, October 02, 1998 3:31 AM
To: metastock@xxxxxxxxxxxxx
Subject: Interesting Charts
<<File: CPQ100198.gif>><<File: LU100198.gif>>
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
Attachment Converted: "c:\eudora\attach\RE Interesting Charts"
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