Forum Archive Index - October 2002

[Phaedrus <Phaedrus@techemail.com>]

Peter,
      FBU has now broken out of the trading range it has been in for about 8 
months. The support at $2.69 held nicely, and I am still holding after buying 
on an RSI/RMI signal at $2.70. It is good to see the former resistance level of 
$3.10 being taken out so convincingly. There is a new trendline in place which 
looks quite sustainable because it is about the same steepness as the former up 
trendline which held for 18 months. 
 My current plan is to monitor this stock using trendlines and the Relative 
Momentum Indicator. This indicator is based on the RSI, but instead of counting 
up and down days from close to close as the RSI does, the RMI counts up and 
down days from the close relative to the close x-days ago (where x is not 
necessarily 1 as required by the RSI). Because of this it tends to give fewer 
signals than the RSI, particularly when market volatility is high.

           Phaedrus.

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