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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: the options strategist who wrote (17192)10/19/1998 11:12:00 AM
From: James Strauss  Read Replies (1) of 120523
 
AOL...

Jen:

AOL is up over 2.00 so far today... There is an invisible downward sloping trendline that connects the price peaks... It creates a resistance point in the 111.00 area... It's likely that that's as far as this up move could go before turning around in true Symmetrical Triangle fashion... If it does break through that to the upside it could return to the old highs for a double top test in the 135.00 area... If it reaches 111.00 and fails, it would probably test the 94.00 area... If that fails, it could retest the 200 day MA in the 82.00 area on a closing basis... That would be a very good intermediate term entry point...

equitytrader.com

Jim
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