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Technology Stocks : Compaq
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To: Kenya AA who wrote (44906)1/25/1999 12:52:00 AM
From: Christopher  Read Replies (1) of 97611
 
Kenya, I guess we are O.K. The 8300 decline comes from the Head and Shoulder the DOW created between 12/23/98 and 1/22/99. As far as support of 8700 goes, you normally thing of a range of support and not exact numbers. The previous peak created on 10/20/98 of 8713 is where the support is because it comes before the bottom created on December (it is the next line of support). Peaks and Valleys reverse roles going from support to resistance and vice versa. Support is usually found at the previous peak or bottom whichever comes first. In this case I have also factored in the 200 dma(Day Moving Average) since usually a stock will get support around it. By 8700 I am referring more to a range like the DOW could get support at 8600 or 8800. Support should always refer to a range and not exact numbers.

Good trading,

Christopher
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