America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Ed Forrest who wrote (19663)	6/2/1999 4:40:00 PM
From: Steeny	Read Replies (1) of 41369

TA:(interest rates still control, but I still like to see the ta anyway): AOL's downtrend continues on DECENT volume today. The rallies continue to be headfakes with declining highs and lows. Supports: 110(100dma)is resilient on a closing basis. Below that, AOL has a very old trend line at about 98. The mid 90s will be very solid support as the 200dma is there. In addition, the entire 70-90 area is an extremely dense zone where we had the most heavy trading on the way up. The mid 90s also look like a potential bottom as that is roughly a 52 week 50% retrace(important tech level). On the upside, stochoastics look extremely oversold. Resistance levels 115 and 120(stops on the way down), then 128-130(25 & 50 dmas). One positive note, if last year is any gauge, May was a down month which bottomed out on June 2 and then AOL rallied huge. I don't think this is what will happen, but some of you hard bulls might like to know. I don't have a strong view AOL right now. We probably will drift lower to around 95 and then AOL will re-evaluate itself.

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