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Technology Stocks : Egghead Computer (EGGS)
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To: SAMOA1 who wrote (5904)1/16/1999 9:50:00 AM
From: MarkM  Read Replies (3) of 8307
 
What's strange about EGGS movement? It is a respectable $3 above the 50MA. It has solid 3-way support at $20, (lower side of 10-session Bollinger, 50-day moving average, and strong past session supports). It is currently resting on the centerline of the 10-session Bollinger band and the 20MA. The 10-session Bollinger band currently has 5 down sessions followed by 5 up sessions. This means that for the next 5 sessions there will be a natural upcurve in the Bollinger centerline, provided that EGGS stays flat to higher. This should squeeze us towards 26 by end of next week, with higher lows but not higher highs. 26 area is extremely strong resistance, from both the high side of the 10 session Bollnger band, and from strong past session resistance.

I see a gradual rising trend next week (barring global collapse, etc) to where the Bollinger centerline is about 24 to 25 at the end of the week. As we reach this area, there's strong support to jump 26 into the 28+ area, with a pause at 28.

There doesn't appear to me to be anything strongly unusual about EGGS chart. In fact, it looks to be moderately bullish with some volatility.

This is my take. I appreciate anyone elses forecast for next week & up to earnings.

Good luck & good trading.
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