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Re: scratchy post# 111

Wednesday, 01/04/2006 10:36:24 PM

Wednesday, January 04, 2006 10:36:24 PM

Post# of 864
The white dotted line was a descending resistance line.
This was the upper line in the pennant GZFX formed.
Pennants are essentially triangular price formations, they usually indicate a continuation of the current trend.
(The current trend is up)
I find that the more fluid the formation the better the chances of a continuation.
I also find that two pennants in a row is as much as a stock can handle.
Often the third pennant is a reversal indicator.
TSCM is an example of this.
Some of my lates pennant picks were TSCM at five bux, TRE at two thirty, ADST... while ago I forget the price.


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