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Technology Stocks : Apple Inc.

AAPL 278.00

0.0%

10:07 AM EST

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To: Andrew Danielson who wrote (21408)	12/24/1998 8:40:00 PM
From: Moominoid	of 213174

Looking over the year's price action on a weekly chart, from about March on it tracks 97 pretty well with an uptrend superimposed on it. On that basis the January rally is already starting. iqc.com Looks like people who saw the last few months as an inverted H&S (bullish) were more correct than those who saw a descending triangle (bearish). I'm getting more skeptical about the usefulness of a lot of pattern based TA. It's only really possible to say what pattern there was in many cases when the action is already over. Only occasionally can you get into the remainder of a move already underway on that basis. On of the TA indicators I do track is the 34 week Bollinger Band. It is currently at 42 which is just below the previous highs in August. 42-43 would therefore be resistance. Closing above that could be bullish. The inverted H&S projects to a 46 target (but again I am getting skeptical of how useful that is). My FA (CAPM earnings with conservative growth assumptions) target is 47. David

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