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Strategies & Market Trends : Making Money is Main Objective -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (1676)	10/30/2001 2:03:57 AM
From: Softechie	Read Replies (1) \| Respond to of 2155

EMLX TECHNICAL CHARTS (PAGE 2) from Yahoo by: prudentinvesting101 (28/M/Raleigh, nc) 10/29/01 09:58 pm Msg: 50862 of 50875 Weekly EMLX stockcharts.com[m,a]waclyymy[pc20!c200!c10!c 5!c15!c100!c50][vc60][iUb14!La12,26,9!Lk14!Lp14,3,3] - VERY INTERESTING! – The weekly chart will reflect the optimism about Fibre Channel technology better than the monthly chart so I will put a lot of weight into this chart. This chart is wild too! Lots of volatility! Notice how the stock crashes but bounces back each time? This is intriguing and shows support by investors to pick up stock in the company on any thoughts of an economic recovery. What should be of interest to all, longs and shorts, is that we are in the middle of many moving averages. While we got above the 20-week EMA of $23.38 we couldn’t get above the 50-week EMA of $32.74. More importantly, we haven’t been able to get above and CLOSE above those levels since the disappointment earlier this year! Furthermore, when EMLX traditionally peaks the stock closes the week a weekly low. In saying this, when EMLX goes up the stock price closes, like most stocks, at higher highs. Like any other stock it attained lower lows on the way down. That is evident in the chart. The 5-week EMA is $22.30, the 10-week EMA is $20.91 and the 15-week EMA is $21.74. Like I said, the 20-week EMA is $23.38 and the 50-week EMA is $32.74 Today we closed at $24.61 and last week our lowest close of the day was Friday’s close of $25.53. So, are we are starting the process of lower lows. If you believe in the monthly chart of the Dow and EMLX you should believe that the bias is to the downside, not upside. Lets recognize that we are in a weekly downtrend line. Agreed? The weekly chart slopes downward. If you connect the highs to the lows you get two lines that point downward and to the right…..The weekly chart also shows that each time the stock rallies we get lower highs and lower lows. Agreed? But, we want to know where EMLX is going, not where it has been! (continued)