| To: Stephen M. DeMoss who wrote (3579) | 1/28/2001 10:12:27 PM |
| From: ken-l | Read Replies (1) | Respond to of 3773 |
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steve re: BVSN
i think we're sliding lower to fill the lower gap between 11 and 11.56, but then after that i dont really want to guess yet <GGGG> !!
there are 2 diff formations in its intraday chart <zig zag> !!! first is the larger bullish flag <declining channel with a 5 bucks spread>; upper trend line is formed by connecting the 2 peaks @18.5 and 17.18; the lower trend line is formed by connecting the bottom on 01/18 @13.50 and friday's low @11.87 !!! as long as it doesnt break the channel to the down side, it wont crash straight down !!! should it be able to break this channel to the upside, its short/intermediate term trend should turn back up !!!!
on a shorter time frame, it's trading within a bearish flag <rising channel - intraday channel on friday> !! in my humble opinion, there are only a few figures <supports/resistances> that should determine its short term swing tomorrow !!!! since it tested and failed to break the short term down trend line on friday <down trend line started from the second peak @17.18 to current price>, and closed it with a hanging man <in the 60mins chart>, u have to keep an eye on the same down trend line which should yield a resistance @14.25+/- <i'd say 14 11/16, in case of an overshoot> tomorrow !!! should it be able to successfully break 14 11/16, it may and can ascend higher to test its upper trend line of the bullish flag @16 3/8+/- <and gradually declining> !!!
on the other hand, if it cannot break the 14.68+/- tomorrow morning, i'd keep an eye on the lower up trend line support of the bearish flag @13.50+/- <and gradually ascending> !!! if it cannot hold its 13.50+/-, the selling may amplify !!!! the lower strong support ought to be @12.52/12.32 !!! should it cannot hold those retracements, bvsn should head rite into filling its gap betw 11 - 11.56 !!!
then again, all movements should be in conjunction with the COMPX, IMO !!!
just an observation, and i maybe wrong !!
regards,
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