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UTStarcom Holdings Corp. Message Board

  • johnnydough2009 johnnydough2009 Nov 25, 2011 1:54 AM Flag

    Symmetrical triangle?

    I am a firm non-believer in technical analysis, so I don’t know what to make of it. Looking at the log chart, there is a huge triangle, almost symmetrical, starting in mid-2008 and converging in mid 2014. We are just over 3 years into it, with another 3 years left to the apex. I believe, the technicians add/subtract the base to the point of breakout to come up with the price target. That calculation produces about $20 for the positive breakout within the next few months, and about $0.10 for the negative one. I think they also say that some 75% of the breakouts happen in the direction of the previous trend, which in this case was down.

    Any technicians care to comment?

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