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Strategies & Market Trends : Tech Stock Options
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To: wiley murray who wrote (41280)4/25/1998 5:09:00 PM
From: donald sew  Read Replies (1) of 58727
 
Wiley,

From just the technicals and not considering any of the news that came out on MSFT, it just entered the oversold region but is still not yet in CLASS SELL status, but getting close. The candlestick is indicating some more downside. It was a black day with an upper shadow and a very small lower shadow That normally means that the bearish sentiment overcame the bullish sentiment, but there was some bullish sentiment indicated by the upper shadow. Such a configuration I normally interpret that it will follow the market somewhat. Therefore the bias is still to the downside.

The next support line is at 88 which is a strong one. If it breaks it to the downside the next support is at 80.

Seeya
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