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Technology Stocks : Egghead Computer (EGGS)
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To: fiberman who wrote (2027)7/23/1998 12:57:00 PM
From: Kip518  Read Replies (2) of 8307
 
EGGS has broken the lower trendline in the pennant it recently formed. Clearly MMs are trying to hold it up, but, technically, EGGS should next test the resistance at 19. This could happen this afternoon if the other internuts start to seriously selloff, which is looking increasingly likely, or tomorrow.

For the FA bulls expecting a bangup earnings report next week, this could be the opportunity to buy the dip. For shorts, such as myself, we should watch 19 closely. If it fails, next resistance is 17 1/2. Depending on the action at resistance points, I will hold or reverse to long.
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