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Technology Stocks : America On-Line (AOL)
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To: CGarcia who wrote (13709)4/29/1999 7:39:00 AM
From: Steeny   of 41369
 
You are basically correct. What is important in technical analysis is the closing price, not the intraday price. The close on 4/19 was about 114. This was fairly close to the longterm trend line(about 108 that day). Usually, though, real tests of trend lines occur right on the line and don't just bounce once. There are usually at least 3 or 4 tests close together. There are no hard and fast rules as to when this will happen, but it is a virtual certainty that it will happen one day. Thanks.
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