Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 10.82

+0.8%

Nov 26 3:59 PM EST

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To: stan s. who wrote (7248)	4/16/1999 11:01:00 AM
From: stan s.	Read Replies (3) of 17679

AXC was buoyed by news yesterday but the chart is showing signs of some short term deterioration. The positives yesterday, up close and a bullish lower shadow. However IMO these were outweighed by the negatives. The stock closed lower than it opened and the candlestick day was very similar to the Hanging Man...but not quite. I'll have to recheck butI believe there was a bearish divergence in the RSI (14 day). Apparently entering the phase of feeding on and needing news to prevent a drift down. Without news, look to the 5.12 gap for eventual support on closing basis. Key words, short term deterioration, without news...weekly chart remains strong.

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