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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (11651)	3/4/2001 12:52:52 PM
From: TechTrader42	Respond to of 12039

I wonder where it'll bottom out. It could be here, at Friday's low of 15.75, or it could make its way down to around 12 1/2, or, I suppose, the low 9s. That's illuminating, huh? Your MACD indicator (or at least my proxy for it) is bottoming out. Maybe it'll bounce soon. ORCL's P/E is only 14.88. Compare that with CSCO's, at 54.25. So I'd be inclined to look for a bounce soon. But guessing about the future has to be built on a solid foundation of stops. ORCL looks oversold in weekly and daily charts. Interestingly enough, it's parked on the 200 SMA in the weekly, which may be another reason for a bounce. Remember when the MSFT case brought the market down? Maybe another decision in that case at some point will help bring it back up. But I have no idea.