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

To: JimBeamII who wrote (464)	4/4/2000 12:25:00 PM
From: JimBeamII	Read Replies (1) \| Respond to of 494

TA update for those interested ... Please refer to previous updates at: http:http://www.siliconinvestor.com/readmsg.aspx?msgid=13333194. Nothing has really changed with ICOM's technicals since the last update. The sell-off will probably continue; hopefully it will not close below current support at 4.25. Starting with Worden's indicators: 1) the BOP closed a little less negative; 2) TSV stayed negative and is turning down; and 3) Moneystream continued to fall lower. See TC2000 chart at jimbeamii.com. As for other technicals, See barchart at jimbeamii.com. Stochastics show oversold. The %D line started turning up Friday but turned down again with yesterday's selling. This indicates the selling is not over. MACD fell further into negative territory yesterday. RSI continues to fall. Current support is around 4.25 - 4.30 (2/3/00); Long term support is 2.13 (See TC2000 chart, above). Given the above, selling will probably continue. If it closes below current support, it will not be surprising if the stock heads lower toward long term support around 2.13. I will be looking to re-enter the stock, cash, at $4.25. However, if price continues to decline, I will catch it at its lowest level since I feel the stock will rebound in the near term and, at these current levels, there is little downside with potential for large rewards. The above is based strictly on what I may or may not know about Zen and the art of reading tea leaves. jbii