IMMM ( I'm Mad Monk) Message Board

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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)

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To: Derald Muniz who wrote (195)	3/17/1997 8:46:00 PM
From: Casey	of 1480

<<Explain the A/D line. Thanks. BTW, what charting software do you use? Could you send me a copy via email?>> The A/D line is calcualted from the closing price relative to the price range for each day with a result between +1 and -1. It is then added/subtracted to a running value. It is helpful to identify whether a stock is under accumulation or distribution, by the so-called smart money. It's trendline is compared with the price trend, with divergences signalling potential upcoming turning points in price. If you want a dramatic example, look at Intel's chart a few weeks previous to it's recent rollover in price to the downside. The A/D line started to decline several weeks early as the price continued to rise, and then the stock broke. The A/D line signalled that "smart money" was unloading the stock into every price rally over several weeks. I use AIQ charting software, but I wouldn't recommend it today. It's too expensive. I am not able to e-mail you a chart. Sorry Casey

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