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Technology Stocks : America On-Line (AOL)
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To: Steeny who wrote (14471)5/3/1999 4:56:00 PM
From: Andreas  Read Replies (7) of 41369
 
To Steeny;

Why stop there? And if we don't hold 92 I see next support at 75, which will be a new real battle. But if 75 breaks look for new support at 60. Unless of course there is a market correction in which case we'll drop to 395 day moving average of about 48. Of course, if we get to 48 a lot of people will want to take profits off the table driving the stock down to about 31.50. But at that point there may be some sector rotation causing the next support level at 20 to be breached. In which case I would expect a free fall to about 12. By that time next quarters earnings will be out and everyone will be selling on the news dropping aol down to 6 13/16. Of course I see a rally at that time pushing aol up to 8 with subsequent profit taking bringing aol to a more realistic 4.50. By this time, I see a major devaluation of the U.S. dollar causing a major bear market with Greenspan raising rates 3 full points. At that time I am fairly certain we can expect aol to break through major support at $1.50. If however, we do break through support at $1.50 I would not be surprised to see it drop to one or two cents per share. At that point we will be below the 3,650 day moving average and convergence/divergence indicators will likely cause aol to drop to about -2.00. But don't despair at that point I see major support at close to -10.00/shr.

Happy investing!
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