[CANSLIM] charts and patterns questions

From: michael_niemotka@baxter.com
Subject: [CANSLIM] charts and patterns questions
Date: Fri, 2 Aug 2002 13:41:48 -0500

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All,

When using charts to spot patterns, does it matter much if you use daily or
weekly charts?  I notice that in the stocks in the news section, they use
weekly charts, and many times I will circle those that look like cwh
patterns for later study. But sometime, when I look at a daily chart, the
pattern seems to go away, or is much harder to spot.

Also, is the pivot point the pivot point, regardless of which chart you
look at?  What I mean is, if a stock has a pivot on the weekly chart of say
$15.10, does it have to have a breakout for the week of over $15.10 on
higher than ave weekly volume, or is it still a valid b/o if it rises above
$15.10 on any given day with higher than ave daily vol?

Thanks for all the help, and have a great weekend

Mike

Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com



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