2 replies to this topic

[hiker]

breakout in recent days above the 2.5 year trendline...the declining tops trendline drawn off the August 1996 high remains above the current price action....B of A upgrade today...volume has accelerated ever since the breakout tho' horizontal support below $17 was tested after the initial breakout

Edited by hiker, 01 November 2006 - 12:35 PM.

[PorkLoin]

That's what I call all systems being "GO," Hiker. Best, Doug

[hiker]

Doug... could it be that $19 to the January 2000 high of 19.375 represents a congestion zone?...see price action from 1998 to 2000 I sold this upgrade today because of this...back in long on sustained move above 19.40 or so. I often pay more attention to horizontal price zones than other indicators and trendlines for timing entries/exits...works sometimes and not others

Edited by hiker, 01 November 2006 - 02:06 PM.