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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Olu Emuleomo who wrote (8595)	1/7/2001 8:03:51 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 13572

Olu, Coming off the recent 52-week low, ITWO continues to encounter trouble. It has tested overhead resistance several times at the declining moving averages, and each time has been unsuccessful. Friday's candle looks bearish, and technicals show sell signals. Support is at about 37: askresearch.com Intraday (15 min) chart does not look hopeful either. The last candle formed was a Doji, which suggests to me that ITWO could possibly rally to test the declining moving averages at 44. There are stochastic crossover and MACD buy signals in place, but because Williams %R and OBV is flat, and stochastics not sharply upsloping, this signal looks weak to me, and not likely to sustain much of a rally. The intraday chart suggests to me that ITWO will probably trade mostly sideways to meet the declining moving averages (or rally weakly), at which point it will likely fail. askresearch.com Max pain for options expiration in two weeks is at 50, so the best that ITWO can hope for is that, IMHO. There is an outside chance that ITWO could rally as far as the declining 50 day ema (now at about 59), which so far has proven to be formidable resistance. Could trade sideways, but looks to me more determined to seek lower ground. All JMVHO............ Walkingshadow