Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (7462)	4/6/2005 6:04:31 PM
From: Walkingshadow	Respond to of 8752

Note that RNWK closed yesterday by challenging the 40 ema (critical support/resistance on the intraday chart). It was not a foregone conclusion that failure would occur, but I thought we'd see it trade higher at the open, then fail. 139.142.147.22 So that's pretty much what happened. A brief rally up while retail buy orders were filled, then it was all downhill with RNWK repeatedly challenging the 40 ema, but never confirming a successful breach. There is an important lesson here: just because a stock trades through a critical support/resistance level does not mean much unless and until that is confirmed by a subsequent test. T