Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 9.475

+2.5%

Jan 9 9:30 AM EST

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To: jonggua who wrote (1434)	1/26/1997 1:27:00 AM
From: Art Ebbands	of 3256

James, Regarding TA, AXC is at a very critical juncture. It needs to hold at this level or technically it will break down. Probably the single most reliable technical indicator is the 200 day moving average. AXC is now sitting just above it. A break below 8 1/8 could very well lead to a move back to the 6 1/2 area. Actually AXC has been acting OK here in light of the pounding in the mkt over the past 2 days. AXC is also becoming quite oversold based on the short term stochastic indicator. IMO AXC should hold in this area and possibly bounce from here barring continued severe market weakness. If the market continues to tank big time, AXC will more than likely also retreat. On any close below 8 1/8, I will liquidate my current trading position and look for a lower entry point. I am still holding a sizeable long term position because one never knows when the next catalyst (news announcment) might come to propel the stock upward. AE

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