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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: RocketMan who wrote (23559)	7/15/2000 9:22:55 PM
From: E. Davies	Respond to of 29970

You don't call a triple or quadruple bounce off the mid-teens a successful proof of the bottom? Unfortunately, no. ATHM is consolidating in a "declining wedge". Tends to break out one way or another when the wedge meets at a point. I'd say within a week or two. A close above roughly 21 would certainly change the picture a lot. Excuse the poor presentation: maui.net Eric

To: RocketMan who wrote (23559)	7/16/2000 10:52:30 AM
From: MIKE REDDERT	Respond to of 29970

You don't call a triple or quadruple bounce off the mid-teens a successful proof of the bottom? I see ATHM bouncing a postulated base, repeatedly... and I see it accumulating overhead on every bounce at the 23 level. "Overhead" is traders who were caught up in the enthusiasm of the moment and are looking to get out "even". On a short term basis, and until the stock moves one way or another, there is as much resistance in the low 20's as there is support in the mid-high teens. To avoid joining a crowd of traders who are "Waiting for Godot", it is best to buy in the mid-high teens... that is, if you want to buy at all. In the absence of verifiable fundamental underpinnings, a stock can take months or even years to base. If you want to own the stock, you are better off on the low end of the base, and if the base breaks down, you want to take your losses quickly, because it is headed for a lower and more sustainable level. Mike