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Technology Stocks : Korea Thrunet Co Ltd - (KOREA)
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To: Sojourner Smith who wrote (343)2/12/2000 5:55:00 PM
From: R. Bond  Read Replies (1) of 406
 
Sojourner Smith,

Thanks for your reply. In fact, I use the RSI as my primary short-term indicator. Yes, prior to Thursday it was moving up as the price moved sideways. We had a big breakout on Thursday. All I was saying was that 1.) I expected more upward movement before a pullback, even if only intraday and 2.) if you draw a horizontal line from Friday's low back across the chart you will see that this shows a historical area of support. Seeing as we had such volatility in the last couple of days, a break back below this point would signal little support for a base around the mid-50's to lower-60's, and the RSI would sink with that move. I'm not saying it will happen.

I like what I hear from the Company - big, competitive ideas. However I can assure you from experience......what I like has nothing to do with the price of a stock going up.

Cheers,
Bond
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