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Technology Stocks : Rambus (RMBS) - Eagle or Penguin
RMBS 87.29-3.2%3:59 PM EST
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To: Bernard Super who wrote (14278)1/27/1999 3:23:00 PM
From: WineOh  Read Replies (1) of 93625
 
TO ALL:

From the

"Tell Me Something I DON"T KNOW Department"

Rambus has technically broken down, in retrospect at 92 when it fell out of the distributional top it formed from early December to Mid January.

But it is helpful to speculate on where the support is.

The 50 day moving average is currently at about 90 so that is gone too.

The first target is the gap in the chart made on about November15 from about 75 to about 77.

The second target is the saucer bottom created between July and mid November.

The gap @ 75/77 was created by the "break out" of this pattern.

There is enough support in the $55 - 65 range to build a house on.

So that is your real bottom line risk.

Not pretty but accurate.

This is technical analysis, and any serious good or bad news could reverse the stock's direction, including a very strong market rally etc.

However, this is what the chart is saying to me.

Stocks ALWAYS (99%) fill gaps.

So I'll bet we see 75 again.

Then it is just a matter of seeing where RMBS forms a new base to move up from.

To review this for yourself, go to BIGCHARTS.COM and create a RMBS chart for 1 year with daily figures. Use 50 for the SMA
and all of this will become clear.

Sorry for the news.

WineOh
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