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Technology Stocks : America On-Line (AOL)
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To: Steeny who wrote (21240)6/10/1999 9:45:00 PM
From: Tom L. French  Read Replies (2) of 41369
 
Steeny

Interesting comments about support levels... I usually look at candles which show several tests of 105, but if you look at a line chart two (bearish) things appear evident: first, there was strong support at ~120, which then became resistance and has been tested from below 3 times--twice with mini tests but the last time after falling to 105 before a much more pronounced retest, followed by a resumption of the current slide and another break through the 100 MA....

which is the second bearish thing that appears on this chart. The support at ~105-110 is around the 100 day MA (which seems an important area for several other stocks I've noticed, like YHOO for example), and it is now breaking below that 100 MA line for the second time.

Recent news about competitive pressure in Europe, where the most future growth is supposed to come especially after 2002/3 (when growth here is supposed to taper off) is another bearish factor I don't like.

I'm still holding on and still very long. But if it breaks below this ~105 level I may lighten up some with the idea of getting back in at lower prices before the resumption of strong upward surges in the fall. The problem with that idea, however, is that trying time AOL is very hard IMO...when it takes off again it will not wait for any hesistant bulls.

I lurk and reads lots, but post rarely... and I'm still betting on AOL getting much bigger over the next 3-5 years.

Regards,

Tom
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