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Technology Stocks : AMERica on-Line, Another over valued company?
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To: Zoltan! who wrote (115)6/6/1996 6:44:00 PM
From: Frank Chen   of 222
 
45 is still the support, but weakened.

Negative news are atarting to get out for AOL. I think the stock will begin a long slide in the near future. Everyone should take a look at Duncan's post, which is very informative on the subject.

I just want to repeat that 45 looks like is still the support level. Yesterday I was expecting that AMER will close below 45, then that will be negative enough to conclude that a immediate correction for AMER is in the horizon. However, AMER held against 45 quite good, so this could be a prolonged struggle between longs and shorts.

I still feel negative for this stock in long term, the 45 level, after several weeks of slide, doesn't have much strength as it was three weeks ago when I last looked at the chart. Beaware that another blow from a major analyst will take out the 45 easily.

The next levels come in at 39-40, 33-35.

REgards,

Frank
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