Forum Archive Index - June 2002

[Phaedrus <Phaedrus@techemail.com>]

Brian,
       Since BCA has shown clear resistance at $4.77 only a month ago, it is 
quite possible that it may repeat if/when BCA again approaches that level.
 Fear not - any suggestions you make would never result in your efforts being 
"marked down severely".  It's predictions that draw the flack! (Note the weasel 
words in my first paragraph!)
 I have attached another chart (not that there was anything wrong with yours) 
to show the 3 indicators with which I have been monitoring this downtrend. They 
are a 30 day Exponential moving average, the Directional Movement Indicator, 
and a trendline.
 All three of these trend indicators are on the verge of crossover. At times 
like this it is very tempting to anticipate the signals, and buy early. This is 
where discipline comes in. As you can see from the chart, these three 
indicators are nicely in tandem. This is the third time that they have NEARLY 
signalled a buy. Had you jumped the gun before, you would have bought at $4.77, 
or worse, $6.70, only to see prices fall away again. 
 A price rise of 5 cents (to $4.29) on Monday would see all 3 indicators firing 
buy signals. A price fall would confirm the current trendline.

               Phaedrus.

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