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Technology Stocks : Gemstar Intl (GMST)
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To: unclewest who wrote (734)11/6/1999 9:50:00 PM
From: Lucrative  Read Replies (3) of 6516
 
>>why? what did you see in the charts you mentioned?<<

I see an overextended stock price, a broadening formation, wide and loose pattern, and underlying, heavy distribution that began in early October.

I believe Friday was a short-term top (possibly an intermediate top). If we go down a little from here and then go back up and meet resistance again (a double top), then it's likely this stock will repeat the decline exhibited in July.

If we go straight down from these levels, then it may not be so bad, but still can go below 70. It's difficult to predict beyond that at this time.

Good luck.
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