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Technology Stocks : ICOM: Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: JimBeamII who wrote (458)	3/30/2000 6:48:00 PM
From: JimBeamII	Read Replies (2) \| Respond to of 494

TA update for anyone interested .... Please refer to previous updates at: Message 13312353 See chart: siliconinvestor.com Starting with Worden's indicators (using stats gathered after close): 1) for the first time since 2/17/00 the BOP has turned from strong positive green to a negative red, indicating systematic selling pressure. BOP was reduced yesterday to 50% green; today it's about -50% red; 2) TSV is also negative and trending down sharply; and 3) Moneystream, which was diverging from the downward price two days ago has now started trending down with the price. It is currently at about 7.50. The stock continued to close with a lower high and lower low as in previous days. Today's low almost hit the bottom boundary of the flag pattern, discussed in previous updates. The lower closes have been on somewhat higher volume. This indicates that a continued down turn is probably in the cards. As for other technicals, stochastics are reflecting the oversold condition and both oscillators are at or below 20. However, at this time, they are running parallel indicating that the selling is not over. MACD (10-20-9) is negative from 3/22, at which time it crossed under the signal, indicating a sell at that time might be in order. The upper Bollinger band has begun trending down with the lower band. The price closed below the lower band yesterday, which was also substantially below the MA20. This generally indicates a trend reversal to the downside. (Keep in mind, despite the substantial retracement since the 3/8 top of 10, ICOM is at this time in a strong upward trend (linear regression for 120 days is in about a 45 degree angle)). Current support is around 5.75 (2/28). None of the technical indicators signal that a reversal of the current slide is imminent. If you are a bull, you would hope the current support holds and buying volume increases thus moving the sticks up the field. If you are a bear, you hope the current selling volume increases, thus taking out support. Tomorrow will be a pivotal day. The BOP will probably indicate whether the bull or bear gets his way. The above is based strictly on what I may or may not know about Zen and the art of reading tea leaves.