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Technology Stocks : AMERica on-Line, Another over valued company?
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To: Frank Chen who wrote (77)5/11/1996 12:54:00 AM
From: Jeff Olson   of 222
 
From a technical stance the stock is more than likely going to move lower next week. If you draw a straight line from Jul 95 to today (with half the time AMER being above that line and half the time AMER being below that line) you will see that this line is now at 55. In past downward moves, AMER has not only reached the line but has gone below it (otherwise the above mentioned line would be incorrect by definition).
As to your point that a 17% downward move is a lot, you can see that since Jul 95 it has gone down at least 25% several times before. A 25% drop this time would put it at 53 (i.e. 25% off of 70). I think the stock has stabilized but will move to this range or below sometime around the end of next week.
Long term the stock is still in the upward trend, as has been in for some time, and most likely continue to do so as it moves toward it's goal of 10 million subscribers.
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