MASTERING
THE TRADE
ORIGINAL, INTERACTIVE
SEMINAR ON TRADING USING
TECHNICAL ANALYSIS
EARNINGS
ESTIMATES
U.S.
QUOTES
U.S.
CHARTS
TECHNICAL
OPINION
CANADIAN
CHARTS
SEC FILINGS
BROKER
RESEARCH
1/26/99 Endesa Chile
(EOC)
Points to watch: A double bottom has formed on Endesa's chart with lows in
mid- December and mid-January at the 9-9.25 level. The bottom pattern was confirmed
yesterday with the stock's break above resistance at 11.25. The 11.25 level has stopped
rally attempts in mid-November and late-December. EOC has moved above both its 21 day
(10.43) and 55 day (10.49) moving averages. On Monday the stock moved above its 200 day
moving average (10.89) for the first time since April 1998. Weekly MACD, OBV, and RSI are
in uptrends. Daily stochastics has given a buy signal. Any further rally attempt faces
resistance at 12.3 (the 38% retracement of March-October 1998 decline) and at 12.75 (Gann
resistance). Look for an expected inflow of money into the Chilean market to help boost
the stock over this resistance level. Buy on a breakout above 12.75.
Copyright � 1998-2002 Tulips and Bears LLC.
All Rights Reserved. Republication of this material,
including posting to message boards or news groups,
without the prior written consent of Tulips and Bears LLC
is strictly prohibited. 'Tulips and Bears' is a registered trademark of
Tulips and Bears LLC
Last modified: April 02, 2001
Published By Tulips and Bears
LLC
