RE: [CANSLIM] ICUI

From: Marc Deiter <dites@yahoo.com>
Subject: RE: [CANSLIM] ICUI
Date: Wed, 11 Sep 2002 11:58:06 -0700 (PDT)

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Thanks Mike. A follow-up question - 

1.  Where do you calculate the top of the cup?  The left side is kind
of messy.
2.  Agree; market volume has been low during that time also
3.  Missed the wedging discussions, will have to get to the archives.


- --- Mike Gibbons <mikegibbons@proactech.com> wrote:
> Hi Marc,
> 
> ICUI is actually in a weak cwH formation as shown below. There are
> a number of problems with the chart that I see:
>   1.. The handle should form in the upper half of the cup but the
> low in the handle low drops below that limit
>   2.. Volume coming up the right side of the cup was consistently
> below the 50 dma
>   3.. The handle is showing an upward wedging shape (see recent
> postings on this from Katherine).
> However, on the positive side, The RS is a strong 92 and the
> up/down volume ratio is a very healthy 1.6 ( by my calculations).
> Both
> lines are trending up. This may indicate stealth buying by
> institutions.
> 
> I just write the code that finds the charts. Those with more chart
> analysis expertise than me can probably contribute more.
> 
> 
> 
> 
> 
> Aloha,
> 
> Mike Gibbons
> Proactive Technologies, LLC
> http://www.proactech.com
> 
> 
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Marc Deiter
> Sent: Wednesday, September 11, 2002 7:35 AM
> To: canslim@lists.xmission.com
> Subject: [CANSLIM] ICUI
> 
> 
> ICUI appears to be near a pivot point of 39.10.  The chart looks
> decent and the fundamentals look good, including an up/down vol of
> 1.8.  Volume has dried up in the handle and the RS line is heading
> up
> and at a high.
> 
> Any thoughts on how to extrapolate the volume today with the late
> open of the market?
> 
> I don't plan on purchasing due to my rookie status and the
> questionable status of volume in M, but am curious about your
> thoughts in order to learn.
> 
> Thanks,
> Marc
> 
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