|
PureBytes Links
Trading Reference Links
|
I don't have ASND out of the downtrend channel yet. My resistance
line is at about 43 1/4 tomorrow.
I draw the top line of the channel through the highs of Jan 23, Feb 26
(which it misses by $1), March 14, March 27 (misses by $2), and Apr 9.
My support line goes through the lows of Jan 16 and Apr 1.
Both of these lines are parallel to the 50-day MA for April.
I have found that channels are most valid when you can find parallel
support and resistance, and they are parallel to the 50-day MA once
that stabilizes.
Where do you draw your channel?
I guess you could draw a short-term resistance line through the highs
of 3/27, 4/9, 4/15, and 4/24, but I like my four month channel better.
I like the idea of picking up ASND, since the RSI peaks have been
getting stronger. I was hoping to get it at 36 in the last minimum,
but it only hit 36 1/4 briefly.
On Tue, 29 Apr 97 23:11:34 UT, you wrote:
> I opened a position in ASND at 41 1/4 this morning after it broke the
>down trend channel and then fell back a little.
|