Gorilla and King Portfolio Candidates Message Board

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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (10107)	11/11/1999 4:24:00 PM
From: StockHawk	Read Replies (1) of 54805

>>I'm hoping Gemstar will finally break through the overhead resistance. << Hi Uncle, I am wondering about your meaning here. In technical analysis terminology, as I understand it, "overhead resistance" refers to the difficulty of a stock to rise after it has fallen. The reason being that people who bought higher will sell as the stock moves up - since for many it is human nature to bail out on a loser once you can break even. A stock has overhead resistance until it reaches a new high - then it is in "blue sky" territory - and with no more overhead resistance, can run up unfettered (such as QCOM has). GMST broke to a new high closing high yesterday and an all time high. It exceeded those highs today. Thus no more resistance. StockHawk

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