Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: gancho who wrote (6662)	10/24/2000 11:18:36 AM
From: Logain Ablar	of 30051

Hi gancho: There is resistance @ $14 and support @ $12 and IMO a break of $12 could bring it to $9. So I'm cautious of the risk. I would look to see it take out $15 on volume but again strong resistance @ $16.5. I remember when the stock broke from 32ish to 39ish on light volume in Feb. / March time frame. Without volume its a false break (and as for calling the stock Zeev warned on the volume @ that time but I added anyway). Its safer to have volume confirmation. I'm not saying we can have a break of the $12 now but the risk is still there. Look @ all the news and the stock has gone nowhere. TA is still indicating weakness so I'm not sure what the actual fundamental problem is but something is still hindering the stock. So at least for now I won't be back in the stock unless it breaches the $15 on volume.

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