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Strategies & Market Trends : Technical Analysis - Beginners

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To: Lee Lichterman III who wrote (8308)	4/20/1998 11:42:00 PM
From: TechTrader42	Read Replies (1) of 12039

Hi L3 aka L3 (which are you usually known as, L3 or L3?): I'm no expert, but in my opinion, the beginning of the end for this stock was Thursday or Friday, when it broke through short-term support at around 38 7/8. The low fell through that level Thursday, and it closed below it Friday. That was a clue that it might go down Monday. The next lower support level could be under 34. On the optimistic side, it could correct to back over 40, but it doesn't look good. I'd say the stock is moving down. Set a limit to how much you're prepared to lose. If it does continue to fall, don't be tempted to ride it down. Brooke

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