Applix is back in action Message Board

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Technology Stocks : Applix is back in action

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To: Don Green who wrote (2500)	1/28/1999 9:04:00 PM
From: Jibacoa	Read Replies (1) of 3014

<<<But when a tech stock drops 10 plus percent in value, with sronger than normal volume...>>> Don: the "stock drop" today was about 12.5%, but you have to keep in mind that it had gone up from 5 to 6 on January 19th (that was a 20% up move on a volume of 419,400 somewhat larger than today's volume of 272,600)It closed at the high of the day on January 19th. Also keep in mind that it traded as high as 7.00 on January 20th with a volume of 525,800 (Almost twice as much as today's volume).At that level the stock was unquestionably overbought (31.6% above its 10 day average) May be there was some anticipation of the "good news" and as you know "they buy on the rumor and sell on the news". Be that as it may, the stock has yet to drop to 5 to get to its 25 day average, which would be an expected "suport" level and in doing that it would still keep intact the "uptrend" coming from last October low around 2.00 Have a good day.

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