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Technology Stocks : THQ,Inc. (THQI)
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To: Sigmund who wrote (3043)1/14/1998 10:08:00 AM
From: Brian MacDonald  Read Replies (1) of 14266
 
There are alot of people that use charts and technical tools to trade. Since they make their collective decisions to buy/sell on the basis of these charts, the price movements, resistance levels and moving averages created in turn become self-fulfilling prophecies. They then re-inforce the next spate of trading decisions.

Call it Voodoo, or whatever, but it's there.

Brian

P.S. Soon as THQ went above $20.50, $20.50 became the bid level eventhough the stock was trading at $21.00. We'll see if this holds.
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