American Superconductor (AMSC) Message Board

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Technology Stocks : American Superconductor (AMSC)

AMSC 38.87

+6.4%

Nov 7 3:59 PM EST

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To: Wafa SHIHABI who wrote (300)	12/20/1999 8:03:00 AM
From: Jay Lyons	Read Replies (1) of 973

Be aware that the following is from a very novice and very biased chart reader... You're confusing a "cup and handle" formation with a "bowlish" formation, Wafa. AMSC is not the former, but does exhibit signs of the latter. While I would question the relevency of a five year lookback, one handles a bowl by measuring the distance between the previous top and lower support. Then, if the previous high is taken out, theory would have it that the stock will exeed that high by the same distance. So...25-9=14...25+14=39. 39, then, would be the target. You can see this at work shorter term if you look at that top we put in just prior to the secondary and the support we put in at the 10 level. 18-10=9...18+9=27 As you can see, it worked out almost to the penny at Friday's high of just over 27. Hopefully we spend some time in the mid-twenties building a base. Then come early 2000 we get some announcements of SMES sales, and we have a new base from which to build off of. Jay (Very long, and very biased)

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