Forum Archive Index - October 2001

[Phaedrus <Phaedrus@techemail.com>]

 CLI has been in a downtrend lasting some 6 weeks. It closed yesterday at 
$2.80, thus has now broken through the downward trend line.
 Note the price/volume climax on 28/9/01. The are typical of major turning 
points. The volume of 2.4 million shares traded is the highest on the chart. 
Note the much lower Low of $2.30. See how buying pressure overcame selling 
pressure to Close much higher than the Low. ($2.46) This forms a Candlestick 
with a long lower "shadow", again very typical of a significant turning point. 
The Close yesterday was almost at the high for the day, a bullish sign, hinting 
at further rises to come. 
 While the downtrend has ended, technically there is not an uptrend until there 
is a higher High after a higher Low. 
   Phaedrus

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