Sunday, March 23, 2008

DBS




DBS's chart has two possible patterns. A descending right angled triangle and a double bottom. Both are unconfirmed. Incidentally the STI and Dow charts both have possible double bottoms.

Measured target based on a double bottom pattern is 21.60 but note the HCR from 18.80 - 19.60. A breakout above 18.98 would confirm the double bottom pattern. If I wanted to be more aggressive I'd enter on a break above the downward trendline.

No comments: