Trendy Reversals

  • May 3, 2002
  • Duke Heberlein

Reversal patterns played in the direction of the trend can often be good
places to look for trades.

 


5-1-2002


14:12:20

Intraday Setup Alert

Americredit (ACF)
is forming an inverted head and shoulders on the intraday chart. The
neckline or resistance level is 38.50. ACF is trading at 38.55 down .27.

 

At the time this alert goes out, the S&P 500 has established a solid uptrend
over the second half of the day.

 

 

 

The stock rallies for more than 1 1/2 points out of the pattern.
Stocks that have to play catch up often have very fast moves. Keep an eye out
for these situations.

Have a great weekend,

Duke