America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Ed Forrest who wrote (23051)	6/18/1999 2:45:00 PM
From: David E. Taylor	Read Replies (1) of 41369

Ed: The TA folks will say that the 112-115 range is likely to provide heavy resistance due to the lows on high volume at this level on 3/24, 4/19, 5/5 and 5/7, so we probably need a good high volume up day to break through. Next heavy resistance would appear to be 120, if we break through that it's off to the races. Disclaimer: while I'm a relative newcomer to investing compared to the folks who've been doing TA for ages, I've never seen any convincing rationale for why TA works (sometimes) other than the fact that lots of people believe in it and in fact act upon it. So the above is JMO on the TA, maybe others more experienced will have a different take. David T.

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