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Technology Stocks : Apple Inc.

AAPL 278.79

-0.7%

Dec 5 9:30 AM EST

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To: Sam Scrutchins who wrote (21396)	12/24/1998 6:41:00 PM
From: Edward Boghosian	Read Replies (1) of 213173

If you would draw a straight line starting from the '91 high and connecting subsequent lower highs, you will see that they fall on a descending line. Which means: Apple has been in a downtrend since '91 but I can see that, about, 46 is a tremendous resistance area. I drew the line with the edge of a piece of paper and I'm not sure whether Apple has gone above this descending line. The observation of the historically high volume of trading may mean that momentum is building up for the price to go up to or penetrate this resistance area or break through this descending line if it already hasn't. Interesting!!

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