Technical analysis on Proteome (PRM) and IBM

This is a discussion on Technical analysis on Proteome (PRM) and IBM within the Technical Analysis forums, part of the Methods category; Technical analysis on IBM Visit the article by clicking on the URL below: http://www.themestream.com/articles/...d=002401000001 Technical analysis on Proteome. PRM. Visit ...

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Old Jan 1, 2001, 7:16pm   #1
Joined Dec 2000
Post Re: Technical analysis on Proteome (PRM) and IBM

Technical analysis on IBM
Visit the article by clicking on the URL below: http://www.themestream.com/articles/...d=002401000001

Technical analysis on Proteome. PRM.
Visit the article by clicking on the URL below: http://www.themestream.com/articles/...d=002401000001


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The above does not represent financial advice.
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Old Jan 1, 2001, 8:24pm   #2
Joined Nov 2000
Post Re: Technical analysis on Proteome (PRM) and IBM

Well done and how informative these posts are.


Whilst I do not trade the US market i always take a keen interest for as night follows day the world markets are affected to a greater or lesser degree.

You confirm my view on PRM in another post on this BB

Glad your back, and look forward to reading your prognosis o markets and individual stocks.

I recommend all members of this bulletin board to click on your links for detailed explanations.

May i take this opportunity to wish you and yours a Happy and successful 2001

John
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Old Jan 2, 2001, 4:19pm   #3
Joined Nov 2000
Post Re: Technical analysis on Proteome (PRM) and IBM

My two-pennyworth.

Click over to view the chart using weekly data. See the nice uptrend from Jan 2000.

See also the retracements.. exactly at 20 week intervals. Presently, we are in week 11 of the present cycle.

The shape of the present cycle is exactly as should be in an uptrend. A rise early in the cycle, followed by a fall in mid cycle, followed by a higher high in the 2nd half of the cycle (present date). Guess what next.

Wait 10 weeks and buy them back on the trendline at 75p.
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Old Jan 2, 2001, 11:39pm   #4
Joined Nov 2000
Thumbs down Re: Technical analysis on Proteome (PRM) and IBM

More weakness shown today:

Opened 91
High 95
Low 88
Close 88

Leaving long upper shadow on the candlestick chart

John
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Old Jan 3, 2001, 3:17pm   #5
Joined Nov 2000
Post Re: Technical analysis on Proteome (PRM) and IBM

MORE FROM CHARTY 3 January 2001

Just an update on Proteome PRM

We had an inverted hammer yesterday, This is normally a reversal signal

Today we moved away from the upper BB. This is another sign of weakenss. However both lines are rising which a sign the the major trend is still up.

From the low on the 13 October, you can draw a support line. This line is now in the 77ish area. It will be at 80 on the 5th Jan. This is a major support for the stock.

MACD is showing a negative divergence, and the MACD line is flat. Both elements sound a note of caution on this stock.

Stochastics are still overbought.

Volume was above average yesterday. Smart money may have taken the opportunity to cash in their profits.

Conclusion...........Mixed signals. Short term I see more chances that the retracement will continue. We may get close to the support line. I would wait that moment and see whether there is enough strength to justify going long, or not.

This does not constitute financial advice

AUTHORED BY CHARTY AND RE-WRITTEN BY ME HENCE E & O E

John
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Old Jan 3, 2001, 9:54pm   #6
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Post Re: Technical analysis on Proteome (PRM) and IBM

CHARTY started this thread Well spotted John, that was an inverted hammer.

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Old Jan 3, 2001, 11:12pm   #7
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Thumbs down Re: Technical analysis on Proteome (PRM) and IBM

The Candlestick chart today, 3/1

A Hanging Man occurred. This pattern can be bullish or bearish depending on the trend. If it occurs during an uptrend (which appears to be the case with Proteome) it is called a Hanging Man line and signifies a reversal top.

If it occurs during a downtrend it is called a Bullish Hammer.

Therefore seems likely to retreat some more in line with others prognosis.

John
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