Simple Technology - STEC Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Simple Technology - STEC

STEC 1.590

+65.6%

Dec 23 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rudy who started this subject	3/16/2002 12:42:25 PM
From: Rudy	of 36

Rechecked the daily chart. Some observations. I was looking at the following chart: stockcharts.com[l,a]daolyyay[pb50!b200][vc60 ][iUb14!La12,26,9]&pref=G Monday will be extremenly important day. Right around 7 (maybe as low as to 6.5) is a major support area for two reasons. Previous consolidation of 4 days was there. This creates good support and it is very near (makes it stronger). Also as I repeated several times, the trend channels bottom edge (sorry could not draw lines on the chart) is right around 7 too. As you can see from 14 day RSI, STEC is not overbought anymore. Now look at the trend from November to present. In December we have a nice decending triangle followed by a huge run up. These descending triangles act as coils. Compressed the release energy in a burst. Following that burst comes a cup with a handle. Please pay attention to volume as well. This is textbook stuff. Really I loved this trend. Then comes another breakout in early February. Pullback to test support at 5 and shoot up. Then another descending triangle. What some of us called a "park job" was a coil being compressed. A breakaway gap follows that. Short consolidation and a huge unexpected burst to 9. By now RSI is way overbought. And the pressure gets released. Pullback to 7. I hope you could follow it. I find it a great example of a long term trend. The only concern I have was the volume today. However as you can see from the previous days around 7 there were a lot of buyers at that level (black volume bars). That is what makes it a great support area. My honest guess (as good as anyone elses, this thing is like earthquake science, everything is empirical and intuitative, nothing scientific.) is that STEC will hold around 7 and the trend will resume. Let's see. Good luck. Rudy.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next