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Realtraders,
Now that compaq has slashed prices on
corporate pc's, big blue should experience the
heat of competition, may fit in with this analysis.
Running Nature's Pulse, came up with a
possibly significant bar for 7/8/97*; (day before
the doji of 7/9 brought to our attention by
John Boggio).
If we compare the 5/28/97 high of 91.875
with the 6/4/97 low of 83.375, the high of 7/9/97
is approx a 1.38 external price extension.
The three daybar pattern presented
on [7/2 7/3 7/7] is an "Upside Gap Two Crows";
a bearish reversal pattern, recognized by:
1. Uptrend continues with a long white day.
2. An upward gapping black day forms
after the long white day.
3. A second black day opens above the first
black day and closes below the body of
the first black day, and it's body engulfs
the first black day.
4. The close of the second black day is still
above the close of the long white day.
(a gap remains between the 1'st day and
both 2'nd & 3'rd days)
Source: Candlestick Charting Explained
by Gregory L. Morris
This candlestick analysis hinges on the
doji day, 7/3, as having a black body.
Also, Eddie Kwong's GRII momentum
indicator has risen into the time-frame
presaging 7/9.
Implies down time for IBM, short-term,
(1-10 days); if the high of 7/9 is exceeded,
this projection is probably all wrong.
Just an amateur's opinion.
Form your own conclusion before risking funds.
Best wishes,
Rory Lewellen RL2946@xxxxxxx
*(calendar days, 8 bars, 89 pivots,
golden section multiplier)
In a message dated 97-07-09 01:18:00 EDT, you write:
<< MKT - Candlestick Interpretations?
by "G.John Boggio" <boggio@xxxxxxxxx> >>
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