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Technology Stocks : Eiger Technology (OTC-BB ETIFF)
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To: Dan Hamilton who wrote (49)12/13/2000 3:24:59 PM
From: Joe Krupa  Read Replies (1) of 67
 
Hi Dan,

Thanks for that information. With the value of Nixxo at about $1.30 to Eiger, the downside for AXA in the low 2's is virtually zero.

I just finished having a great TA discussion on the t.dmx thread with a fellow TA disciple. We discussed how we did not see the the accumulation happening all summer and fall, as DMX was caught in a straight downtrend -- from $12 in mid May to $3.85 in late November. The stock is now in the $8's. What we failed to see was the positive divergence by the accumulation indicators, particularly the A/D (accumulation/distribution) line. It indicated all along that accumulation was taking place all along but at the buyers price.

I just took a look at the same indicators for AXA -- they blew me away. This stock, according to the indicators, is under major accumulation and has been since its initial run up, 1 year ago.

I am posting a chart below - I hope it works. Note the positive divergence with the A/D line. Also note the positive divergence with the MACD since mid-October.

IMO, the charts are sounding the alarm bells and indicate a breakout soon. Buying anywhere in the low 2's or on a breakout above $3 would seem to me to be very prudent.

In a sense, this whole bear slide has been a bit of a smoke screen for the accumulation happening.

Joe

<img src="http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=AXA.TO,UU[L,A]DACLYYMY[DD]">
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