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Technology Stocks : America On-Line (AOL)
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To: Steve who wrote (2059)1/8/1999 6:37:00 PM
From: Steve Robinett  Read Replies (1) of 41369
 
Steve,
The problem with TA is that it's like a Rorschach test. It tells you as much about the person reading the TA augury as it does about the stock. Seems to me you could read AOL's pattern as either a flag formation suggesting future gains after a consolidation or as a technical breakdown, a drop through it's ten-day moving average with recent low volatility suggesting a possibly downside move first to the 130 area, possibily even to say the 98 area.
Chart:
iqc.com
In other words, eye of the beholder. My guess is a bit more decline this month to the 130 area.
Best,
--Steve
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