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Technology Stocks : America On-Line: will it survive ...?
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To: H James Morris who wrote (10125)5/29/1998 7:34:00 AM
From: Mike Hagerty  Read Replies (1) of 13594
 
More from P&F thread:

From: P&F-Madness Thursday, May 28 1998 10:16AM ET
Reply # of 3269

Hi Mike,
The 76 area is the last area of resistance for AOL before it moved up sharply. The last point to which it was sold off (before the run up) is 71. I cut the chart off a little so it is hard to see but the two O's at 71 are a double bottom. This is the next support area.
If you look at the O's I highlighted in yesterdays move, you will see they moved passed support at 81. It has broken two support areas, a triple bottom and a double bottom at 81.

The X's and O's show where the market is willing to buy and to sell to, the stock.
AOL is in a precarious position with its next support being so low. This also means you have no close stop point.

Take care,

Jan I am

(Below is chart that Jan's referring to)

From: P&F-Madness Thursday, May 28 1998 12:53AM ET
Reply # of 3270

Here is AOL:

92 X
91 X X O
90 ------------------------------------------------X O X O X --------
89 X O X O X O X
88 X O X O X O X O
87 X O X O X O X O
86 X O O O X O
85 ------------------------------------------------X --------O X O --
84 X O X O
83 5 O X O
82 X O O
81 X O
80 ------------------------------------------------X ------------OTodays action
79 X
78 X
77 X Med
76 X X
75 ------------------------------------X --X O ----X ----------------
74 X O X O X X
73 4 O X O X O X
72 X O X O X O X
71 X O X O O <--Next support
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