Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Dan Duchardt who wrote (1733)	9/29/2000 8:17:16 AM
From: Arthur Tang	Read Replies (1) of 1911

On support and resistance, I like to draw two sets of parallel horizontal lines. For support, I have $5.15 , then $4.5. For resistance, I have $7.50 and then $8.25. Right now it is in a trading range between $5.15 and $7.5, net volume balance will shift it into breakout or breakdown; depending on ovesold or overbought. With so many red bars, I guess it will be temporary oversold, for most market makers except the ones with huge shorts(who controls offers). The new institutions feature in SI shows in June, 2000. A number of institutions sold out and the market makers bought back almost 4 million shares. Shorts in June was 2.4 million and in September was 2.9 million shares.

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