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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE
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To: Sergio H who wrote (854)12/27/1997 12:50:00 PM
From: Dave H  Read Replies (2) of 2377
 
Sergio,
I concur with Doug's assessment on AIRM's intermediate and longterm TA being near/at bottom (there's a lot of work to be done to turn them around).
I think the short term stuff indicates a nice short term continuation in line with Doug's 1-3 day estimate -- I see the short term stochastics showing a breakout of a downtrend of lower highs that started from the beginning of october and continued on to about 12/8. Yesterday I see breakouts in the stochastics across these downtrends and as such a powerful short term move could happen monday/tuesday.
The key downtrending resistance line in the chart is drawn from the peak in october through 11/14 -- this line is currently at around 3.88 right now. The shorter, accelerated downtrending line comes from the highs on 11/14 & 12/10 -- on friday AIRM barely broke through this line but on light volume. Monday will be key to watch for a confirmation of this breakout with strong volume and a close at or above where the price is now. Dipping to 3 or below would be a bad sign.
There's some strong horizontal resistance at 3.38 -- this would be a good place for the stock to regain as support. I see this as the most probable next stopping point for the stock, though it could shoot through briefly if the short term move that seems to be building gains enough momentum. If that happens, look for the major downtrend resistance (at 3.88 currently moving to about 3 3/4 in a few days) to be the max short term.

-dave
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