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Technology Stocks : America On-Line: will it survive ...?
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To: Quaddad who wrote (3689)6/28/1997 3:46:00 PM
From: chenys   of 13594
 
AOL has touched the 50dma two times and bounced back, yes. Usually, if it comes back and touch for the third time, it won't hold, unless it has had a significant recent change in slope. That is why I said it wouldn't hold. Many will buy in, but most likely, the smart money won't.

As far as RSI, I looked at the Telescan provided package (Tipview or ActiveX on Exploere, they have some discrepancy but the more clumsy Tipview got more of my trust) and I got RSI > 30% still. The envelop based on 25, 50, 200dma still is far away, and there is a sign that the trend is changing. When RSI gets below 10-20%, there will be an outcry. Not now. I hold my view that there would be a small up day to erase the record and continue its decline. Bad news is in the cooking, if charts tell anything.
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