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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (4562)	3/6/2001 5:27:50 PM
From: Peter O'Brien	Read Replies (1) \| Respond to of 5390

On 10/22/99 the price of ERICY gapped up on huge volume (28 million pre-split shares, equivalent to 102 million of today's shares). The previous high was 34.50. The trading range on 10/22/99 was 35.75 to 39.375 with a close of 39.0625. This created a "gap" (i.e., a discontinuity) in the daily price chart between 34.50 and 35.75. One of the older theories of technical analysis is that "all gaps must eventually be filled" before a stock can move higher in the long run. ERICY has now filled that gap, since it has now recently traded at prices within that gap of 34.50 to 35.75 (i.e., 8.625 to 8.9375 split-adjusted). So, it is good news if you are long.