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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: TLindt who wrote (7631)7/1/1999 11:54:00 PM
From: David H. Zimmer  Read Replies (1) of 20297
 
A further test of the 200 DMA is possible, as is anything over a holiday weekend, but, given the recent reawakening of the internet sector, Yahoo in particular, a test of the 13 DMA is more probable.

Any upward movement will meet with resistance at the $34 1/2 level but the chart illustrates what amounts to a hot knife through butter up through that point. Low volume sucks the shorts out to cover given that the shorts did not box this position at lower levels, those below $28 per share were actual buyers.

The potential for a strong MACD reversal from its current oversold position could propel the stock through the $40 level given the right news. A strongbuy signal could be given with a close above $32.
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