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Technology Stocks : e.Digital Corporation(EDIG) - Embedded Digital Technology

EDIG 0.0001000

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Mar 20 5:00 PM EST

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To: Walter Morton who wrote (7759)	9/16/1999 6:04:00 PM
From: Tinroad	Read Replies (1) of 18366

From RB: wtmgyes' TA report for 9/16 (Seems that SunSpot isn't the only one that likes 1.28) TA UPDATE (brief) on EDIG 9-16-99: For the many of you who send or posted kind remarks. Thanks. This acknowledges those individuals. What we saw today was like a car running out of gas. An open on low volume with no follow through. The key price points were yesterday's high of 1.53, August 31st high of 1.562, and yesterday's low of 1.33. Today's range was 1.32 to 1.52 with an open at 1.47 and close at 1.37. Almost an inside day and almost what is called in candlesticks a dark cloud cover but truly neither. This 10-day intraday hourly chart has conflicts all over it. bigcharts.com MA looking to cross down, but, wait the last candlestick is what is called a hammer which after a downtrend is bullish (updated to a even better "positive engulfing" candlestick in a follow-up post - TR). We have a positive %K crossover during the last hour, but, wait again, we have conflict with negative price/indicator divergence. MACD histogram has turned down and crossed the 0-line. The MACD itself has crossed down but is in positive ground. Conflicts. Note, that the chart shows good support around 1.28 to 1.31. How do you read this? Maybe we call 1-800-PSYCHIC. You think? The key today was no volume follow-through. Conflicts usually mean sideways. I have know idea how this will affect the longer term charts. A Fibonnacci ratio of .786 would indicate a turn around 1.22 (1.53 minus 1.13 = .40) (.40 times .786 = .31) (1.53 minus .31 = 1.22). A Fibonnacci ratio of .618 (the most common one) indicates a turn at 1.28 (1.53 minus 1.13 = .40 (.40 times .786 = .25) (1.53 minus .25 equals 1.28). Your call. I only restate that I believe we have begun a new uptrend. And, thanks, again to those who were so kind. As far as the others, I have a good memory but I am saddened by the experience. I won't be with you tomorrow and much if any of the rest of the day. My business calls and I am behind. As always, do your own DD before making an investment decision.

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