Crouching Tiger, Bouncing Stock

  • November 15, 2001
  • Duke Heberlein

Stocks in strong trends rarely pause for long before resuming their trend.
Gann discovered that the strongest rarely pause for more than three days, and
others usually do not retrace farther than the 38.2% Fibocacci level before
swinging back in the direction of the trend.

 

11-13-2001

15:52:28


 UTStarcom (UTSI)
is bouncing off a 38.2% retracement level. UTSI is trading up 1.85 to 22.52
and holds a

3-month relative strength ranking of 84 from TradingMarkets.com.

 

 

This alert gave swing traders ample opportunity to get in the
following day on a continuation entry, and daytraders chances to profit the
next session as well. Keep an eye out for these levels when strong stocks
move into a crouch.

Until tomorrow,

Duke