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Technology Stocks : America On-Line (AOL)
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To: RocketMan who wrote (29019)8/9/1999 6:31:00 PM
From: Steve Robinett  Read Replies (2) of 41369
 
Rocket,

You comment On a technical level, AOL's stochastics and MACD look like they want to turn up, and the only thing that has kept them down is the general market.

All true with one caveat. I see AOL as having had a selling climax last Thursday, very significant volume and downside price movement. AOL is now in a short-term up-trend from that selling climax. By the end of the day today, nothing significant had occurred with AOL. Both volume and price ended as insignificant, that is, within plus-or-minus one standard deviation of the monthly moving average. Under those circumstances, I would expect AOL to move back to the $90-$100 range, roughly the neighborhood of the 10 & 20 DMAs over the next two weeks--unless this indifferent volume continues. Today's volume was a little light considering the news background, which I thought significant.

Best,
--Steve
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