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[sharechat] ITC Chart

From:	Phaedrus <Phaedrus@techemail.com>
Date:	Sat, 28 Jul 2001 16:39:43 -0700 (PDT)

  It is interesting to compare this chart with that of CEN. ITC shows a 
Descending Triangle, which is the mirror image of the Ascending Triangle shown 
by CEN. This is a Bearish pattern, which usually breaks out on the down side. 
This happened about 2 weeks ago. The support level of 16 cents was broken, and, 
as is often the case, it then became a resistance level.
  Technically you would not touch this stock with a bargepole. It has been in a 
confirmed downtrend for well over a year and the Descending Triangle was very 
bearish. When it broke through the 16 cent support level (about 2 weeks ago) it 
was the kiss of death.
                 Phaedrus.

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Replies

Re: [sharechat] ITC Chart Michael Phillips
Re: [sharechat] ITC Chart jerrold poh

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