Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 8.270

-3.2%

2:56 PM EST

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To: Michael Olds who wrote (6064)	3/6/1999 10:35:00 AM
From: stan s.	Read Replies (2) of 17679

Michael, "bottom" is probably too strong a word here. There is support in the 2 1/2, 2 5/8 area and indeed the daily chart is showing hints of possibly recovery. A couple of very early momentum buy signals have appeared (CCI and Williams%R at relatively standard deviations) Too early to count on but promising in the very short term. Friday's close showed a pattern very near that of a Bullish Harami cross, indicating a possible short term reversal as well. (7,8 almost applicable) why.net Problem is, the weekly chart is in the middle of a deterioration cycle and has some weakness left it should (could) shake out so even a pop early this week could be short lived. We'll see. A failure to remain above support (on a closing basis) and AXC could test (close) 2.00 (the "gap from" prior to the 2 5/8) support there is weak support at 1.93. News and perception of such remains the overriding factor here so none of this should diminish enthusiasm. At best all TA can do here is suggest possible scenarios and help allay fears not create them. Good luck, Stan

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