Discussion in 'Technical Analysis' started by humble1, Jul 12, 2006.
Time for the ignore button.
Daily chart here. Plenty of gaps and price resistance dead ahead. Should be able to short this again depending on how strong this up move is.
The red parallels correctly "estimated" the target for resistance on this back on [7/25] in spite of the rhetorical prognostications. The blue parallel on the weekly chart provided a short term targetfor a minor bottom as well. The 50 dma is resistance the yellow mav [20dma] may provide support. We shall see.
36.4 down to 36.2 interests me for long side daytrades but I would not fall in love with this level.
Solid breakout today for a prep signal, volume needs to pickup otherwise this is very suspect. There should be some profit taking soon by the short term bulls. Still very much counter trend on the daily chart.
Triangle measurment just got hit as well.
one to watch. may take a while after it bounces around a bit.
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