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Non-Tech : Amati investors
AMTX 1.600-1.8%Jan 9 9:30 AM EST
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To: salim salloum who wrote (7542)12/28/1996 3:44:00 PM
From: John Morrison   of 31386
 
Andy Groves is CEO of Intel, he made a positive statement about ADSL in 1996. This was brought up in Pat's 1996 summary.

Yes, in appears Amati has support at 13 3/8. There is a long term upward trendline that runs through that point. We have held up well there for three days now. Here is a guess -- I think the probability of staying above 13 3/8 is 90% and the probability of going below it is 10%. That's my opinion.

You used the wrong term in describing where we are now. What keeps a stock's price up is *support* and what holds it down is *resistance*. There will be resistance at 24 -- that means it will take time to get past that unless there is some awesome news at the time price gets to that area. We will also see some resistance at 20. Resistance is caused by overhead supply. That means that some folks who bought at higher prices will be selling when the stock gets back to those prices. They have been in pain and just want their money back. Some are that way and that is what causes overhead resistance.

So, I agree with your broker this time cause it looks like there is support here and there will indeed be resistance in the 23 area (I call it 24, but we are close enough to say we agree). Your broker uses the term *breakout*. That is what we call the movement up through and out above resistance. So a move above 25 will be a breakout of that resistance area.

John
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