Forum Archive Index - May 2002

[Phaedrus <Phaedrus@techemail.com>]

 The short-term uptrend mentioned by Chris is indeed starting to look as though 
it might mark a major turning point for BCA.
 The attached chart includes todays price action so far, so the last candle is 
only tentative.
 The price has now moved above the current unconfirmed trendline. Note how the 
three consecutive black candles pushed the price lower, but on decreasing 
volume - the downtrend was weakening. Note the long lower shadow on the last of 
the three black candles - strong buyer support came in before the close, 
lifting prices well above the low of the day. Candles like this often mark 
pivot-points. Note how, since then, volume has increased, with up days having 
higher volumes than down days. These are signs of a healthy uptrend.
 Price action has yet to break above the 30 day ema, and the DMI has yet to 
indicate a buy. Conservative longterm investors would not buy until both these 
conditions are met. 

                Phaedrus.

_____________________________________________________________
Are you a Techie? Get Your Free Tech Email Address Now! Visit 
http://www.TechEmail.com

_____________________________________________________________
Promote your group and strengthen ties to your members with email@yourgroup.org 
by Everyone.net  http://www.everyone.net/?btn=tag

----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/