First Cup

  • October 8, 2001
  • Duke Heberlein

Stocks that show an increase in their 3-month
relative strength ranking from TradingMarkets.com are good candidates for
continuation after moving off their lows. Ballard Power
(
BLDP |
Quote |
Chart |
News |
PowerRating) is a
former high-flyer that has been off my watchlist for a while, but reappeared
this morning. When I looked at the chart I saw why.

 

13:01:29

Ballard Power (BLDP)
is trading in a pullback/low level cup and handle. BLDP is currently down
0.20 to 24.56 and is holding a 3-month
relative strength ranking of 86 from TradingMarkets.com.

 

 

 

The stock has moved 66% off the September lows and is now
tracing out this pattern. At the very least, the pullback that is the handle
makes it worthy of keeping an eye on it to see how it plays out.

Until tomorrow,

Duke

P.S. I really had a great time meeting many of you in Las Vegas.
Thanks to all of you who attended and made TradingMarkets2001
a great conference.