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Technology Stocks : Egghead Computer (EGGS)
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To: Life Coach who wrote (6128)1/25/1999 9:33:00 PM
From: Jan Robert Wolansky  Read Replies (2) of 8307
 
I'd be interested in hearing from those on the thread with a technical analysis orientation. For what it's worth (and I've been wrong before), I see a number of signs for a possible big move up this week:

1. Overall market seems to be currently gearing up for a rally which could test previous highs, providing positive support/momentum

2. Since Nov 3, On Balance Volume has been above its 40 day simple moving average without exception

3. Despite recent weakness, EGGS has closed above its 50 day exponential moving average during this entire period (currently slightly below 50 day simple average of 20.34)

4. StochRSI's of 8/5/5, 13/13/13, 34/34/13 and 21/21/13 time periods are all sharply below 30 (which is where they should be before a big move up)

5. a volatility indicator that I use with AIQ is currently very low, which is quite common before a big move up (or down)

6. weekly chart is healthy, with close consistently above the 10 week exponential moving average since November; a 21 week On Balance Volume indicator that I use with AIQ is currently at the highest point it's been since July 1998

7. Select internets starting to come alive: YHOO up 26, AOL up 5 today

8. Point and Figure: negative action last week, breaking below 21, but currently back in the x column

Jan

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