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Canal: Despus del primer pico, se produce una disminucin que tpicamente
oscila entre el 10 y el 20%. El volumen de la disminucin desde el primer pico
suele ser inconsecuente. Los bajos son a veces redondeados o dibujado hacia
fuera un pedacito, que puede ser una muestra de la demanda tibia.
La reversin del doble superior en Ford tom cerca de 5 meses para formar.
Incluso despus de la interrupcin del soporte, hubo otra prueba de nueva
resistencia casi 4 meses despus.
De un punto bajo cerca de 10 en Mar-97, Ford avanz a 36 por Dec-98. La
lnea de tendencia que se extiende hasta Mar-97 es una lnea de tendencia
interna y Ford se mantuvo por encima de l hasta la ruptura en mayo-99.
Desde el primer pico, la poblacin disminuy alrededor del 15% para formar
la depresin.
Despus de alcanzar una baja cerca de 30 1/2 a principios de febrero, la
depresin se form durante los prximos 2 meses, y no hubo una
manifestacin hasta principios de abril. Esta prolongada baja sugera una tibia
demanda.
La disminucin de 36.80 ocurri con dos lagunas hacia abajo y el aumento
de volumen. Adems, Chaikin Money Flow rpidamente se movi por debajo de
-10%. La velocidad con la que se deterioraron los flujos de dinero indic un
aumento serio en la presin de venta.
A finales de mayo y principios de junio, las acciones cotizaron durante cerca
de 3 semanas en apoyo de la baja anterior. Durante este tiempo, los flujos de
dinero descendieron por debajo de -20%. A pesar de que la situacin pareca
ominosa, la doble formacin no estara completa hasta que el apoyo se rompi.
After trending lower for almost a year, PFE formed a Double Bottom Reversal
and broke resistance with an expansion in volume.
The stock advanced over 20% off of its low and formed a reaction high
around 37 1/2. Volume expanded and the 13-Jan advance (green arrow)
occurred on the highest volume since 5-Nov.
After a short pullback, there was another attempt to break above resistance,
but this failed. Even so, volume on advancing days was generally higher than
on declining days. The ability of the stock to remain in the mid-thirties for an
extended period of time indicated some strengthening in demand.
The decline from 37 1/2 back to 30 was sharp, but downside volume did not
expand materially. There were two days when volume on a decline exceeded
the 60-day SMA and Chaikin Money Flow dipped near -10% twice. However,
money flows indicated accumulation throughout the decline by remaining
mostly above zero with periodic movements above +10%.
The second trough formed with a low exactly equal to the previous low (30)
and a little over 2 months separated the lows.
The advance off of the second low witnessed an accelerated move with an
expansion of volume. After the second low at 30, 5 of the next 6 advancing
days saw volume well above the 60-day SMA. Chaikin Money Flow, which never
really weakened, moved above +20% within 6 days of the low.
Resistance at 37 1/2 was broken with a gap up on the open and another
volume expansion. After running from 30 to 40 in a few weeks, the stock pulled
back to the resistance break at 37 1/2, which now turned into support. There
was a brief chance to get in on the pullback and the stock quickly advanced
past 45.