Amati - MAIN THREAD Message Board

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Technology Stocks : Amati - MAIN THREAD

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To: Steve Frediani who wrote (385)	6/21/1996 11:05:00 PM
From: Jim Roof	of 700

From a technical slant - Amati broke out of a head and shoulders reversal. The left shoulder is on 5/3, the head is 5/24 and the right shoulder is 6/13. The breakout crossed the neckline on 6/18 and fell to 16 3/8. From this point it has pulled back to it's current range in the low 20's. If you're not too emotionally involved and have some confidence in traditional charting techniques (nothing is infallible!) then the next few days may be the best exit point. In theory, AMTX should stall around 22-24 then head south in earnest. A solid run from 5 to 36 with no decent consolidation faces the inevitable selling in mass quantities. It can't be helped nor should it be blamed on anyone or anything. It's just the way it happens. If you ask me, barring some incredible news item, AMTX might see 25 but after that it sees 13. I'm no fun. Jim

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