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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Matthew Leo who wrote (6252)12/27/1996 5:37:00 PM
From: E_K_S   of 42771
 
Hi Matthew - You state.."And think convergence of long and short term moving averages when looking at pennants or flags. The convergence of this averages usually begins a substantial change in market direction"

I believe the moving averages (200 day, 100 day, 50 day, 10 day) for this stock are converging... correct? Therefore we should begin a substantial change in the market direction. Now a few 'technical' questions:

(1) How do you factor the 'on-balance' volume into this equation? Remember Price is set by supply and demand and volume is a measure of magnitude.

One possible answer: We need to track the on-balance volume to see if it begins to trend up or down as our price moves higher. I believe from a technical view we want to see steady on-balance volume as we move higher. A positive move higher in the on-balance volume will confirm the price change trend.

(2) How do you 'technically' measure the length of this move? You tell me based on your experience. I will give you my approach for this estimate. Let's see how our interpretation of these tea leaves compare?

Matthew, nice to see that we have another technician on board. The fundamental analysis isn't working so far....maybe we can read a good technical story here. Please add any other of your 'technical' reads and we can compare notes.

EKS
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