Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 13.58

+13.3%

3:59 PM EST

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To: stan s. who wrote (1856)	2/20/1997 10:23:00 AM
From: Brian Benton	of 3256

If AXC were to break support, and thus trigger a plethora of stop-loss orders, there would be a brief rapid drop accompanied by high volume. In this case, a new rectangle would form accompanied by new support and resistance lines dictated by the traders in this stock. I agree that from a technical standpoint, the drop to 7 1/8 on higher than normal volume was not a good one. But this is not the move the bears are awaiting. You will know it when and if there is a real move through what is "believed" by most traders to be the support line. However, I do not believe AXC is far from that support line. What I think AXC has been experiencing the last six or so weeks is simply the stock trading hands from the weaker investors to the stronger investors. Technically, this issue is quite simple and backs up my assumption. AXC has been in a primary decline, but on very weak volume. Once AXC nears support "areas" (and yes, there are areas of support less significant than what is traditionally termed the support line), you will see some sort of bounceback on higher than normal volume. Brian Benton

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