ADI: The SHARCs are circling! Message Board

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Technology Stocks : ADI: The SHARCs are circling!

ADI 314.01

-1.2%

10:21 AM EST

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To: Aaron Zuckerman who wrote (828)	2/18/1998 3:45:00 PM
From: Harley Morgan	Read Replies (2) of 2882

Looking at ADI chart its established a reverse head & shoulder. The right shoulder occurred on 1/12/98 at a low of 24 1/8. (Left shoulder on 12/16/97 at low of 24 3/4 and head on 1/5/98 at high of 29 1/2). This breakout will be at a yearly high volume (already 3.6M+ at 30 13/16) with previous resistance broken. This is a classic breakout that should satisfy the rule of distance from right shoulder to neckline (31 1/2 - 24 1/8= 7 3/8) minimum move above neckline breakout (30 1/4 + 7 3/8 = 37 5/8). Look at Texas Instruments following the 1/23/98 report. It also completed a reverse head & shoulder and made the upside minimum of 7 1/2 five days later at 54. I believe ADI will follow a similar pattern. That is barring some crazy IRAQ problem like biological/chemical weapons deployment.

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