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Technology Stocks : America On-Line: will it survive ...?
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To: Quaddad who wrote (4084)7/22/1997 8:41:00 PM
From: J.S.   of 13594
 
Quaddad,

First let me say that no one has more regard for your chart analysis
than I do. However, I wonder how you can conclude that the 20dma 50
dma 200dma will all be resistance points. In a rising
stock like AOL over the past months the 200, 150, 100,90,80 etc dma
will all lie below the stock price forming a continuous band of lines. In fact for every price you can probably find an ma line at that price.

Why not the 64 dma. There is nothing intrinsically meaningful in
round numbers in base 10. What about binary or base 17 for that matter.

It may be that those who buy and sell big time look at those ma's (The 200, 50 and 20 dma). Maybe they all use the same software.

I think James is using resistance/support points as prices where
many shares have traded hands. However i would identify the 54 -55
dollar point as one of these also.

Don't get me wrong. I think these ma's are useful. I just wonder if
they can be taken too far.

I'd like to know what you think.

Joe
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