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Technology Stocks : America On-Line (AOL)

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To: Marvin Mansky who wrote (26524)	7/23/1999
From: HECTOR RUBERT	Read Replies (3) of 41369

How's this for clear TA? Thinks look better than we think!!! See why. Follow this link to an AOL chart showing some interesting points. 1) You will noticed a solid support level at $90.25 2) Take note the declining trend which began April 29th at $160 to $90.25 on June 16th has been followed by two consecutive head and shoulder formations. This is very clear in the chart. 3) The first head and shoulder took us from left shoulder low of $90.25 June 16th to head $115.13 June 23rd down to right shoulder $106.25 July 2nd. (Take note that the right shoulder closed 16 pts higher than the left indicating a higher low formation) 4) The second head and shoulder took us from left shoulder low of $106.25 July 2nd to head $129 July 13th down to current right shoulder $109.63 July 22nd. (Again take note another higher low formation from previous with a gain of almost 4 pts) 5) Also notice the head peaks of $115.13 June 23rd and $129 July 13th have a spread of about 14 pts to the upside. 6) Most importantly is the fact that we are sitting on the bottom formation of the right shoulder. Meaning? Well, in the past two head and shoulder formations the first ran from $90.25 to $115.13 gain of 25 pts at the head. The second ran from $106.25 to $129 gain of 23 pts at the head on July 13th. 7) Folks we are pretty much done completing a bottom right shoulder so, with strong up volume another head and shoulders could be in the works with another run up to at least 20 pts in line with previous runs taking us to $130 within the next 30 days if not sooner. 8) In basic terms we are making higher highs and higher lows and that is the current trend the chart clearly shows. 9) Finally the STOCHASTICS indicator clearly shows OVERSOLD conditions and with the exception of yesterday AOL has been trading lower for the past 6 sessions. A relief rally and commencement of another head and shoulders could begin as early as tomorrow or next week as they conduct their Institutional Investors Conference In Virginia where AOL's BOB PITTMAN is the keynote speaker. clearstation.com Best to all, Hector

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