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Technology Stocks : General Magic

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To: Seconds Out who wrote (9592)	5/25/2001 1:55:52 PM
From: James Strauss	Read Replies (2) of 10081

Technically Speaking... ***************************** GMGC is above its 20 day Moving Average... finance.yahoo.com l It has successfully bounced off it twice... Williams %R is rising... This is bullish... If you draw a trendline to connect the price bottoms from April 23rd you'll see a rising pattern developing... If you draw a trendline connecting the price tops from the end of April you get a declining trendline... This creates a Symmetrical Triangle pattern... chartpatterns.com These patterns usually resolve in the direction of the trend... The trend is up... The apex is in the 1.20 area at this time... So consider a close above 1.20 for more than 2 days a breakout to the upside... If that happens, we proceed to a 2.00 double top test... If successful, the next target is 3.00... Jim

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