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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: sheila rothstein who wrote (38143)	12/2/1997 1:27:00 AM
From: Ben Antanaitis	Respond to of 58324

SR, PnF 101: PnF charts plot the increase and decrease in the price of a stock, independent of time. If a stock has increased in price by a specific amount, you add a specific number of X symbols onto an uptrend column of X's, should the price start to decrease beyond a fixed limit you create and maintain a downtrend column of O's. Columns could take days, weeks or months to grow before changing direction. In this way time is not a factor in the patterns that form ie you don't have to add anything to the chart just because another day passed on the calender, only if the price increased or decreased enough on a given day to continue a column or start a reversed direction one. IOM chart interpretation: As the IOM chart shows, IOM has been in an overall bullish trading channel (parallel lines between highest highs ('X') and lowest lows ('O') BUT with an overall upward direction). Now there have been intermediate price fluctuations as the price drifted between the extremes, but overall the highs get higher and the lows are getting higher. These patterns allow for 'trading' ie if the price is at/near the 'resistance' line (one approached from below, forming a potential upper limit) there is a good chance that the price movement may stall, for accumulation, or even a reverse. Should the price drift downward it may approach a 'support' line( a potential lower boundary), where it may slow it's downward movement, and accumulate, or bounce off the support and begin upward motion toward the resistance line again. (not unlike overbought/oversold indicators or CCI studies only visual). Well, IOM has been moving up and has crossed over a bullish support line that it had been driven through in early Oct by the Naomi rumors and then the Oct crash. It now appears that this line is a base support line for the current IOM up ('X') move (support point S1 lies on this line). But a series of upward movement resistance points are shown R1->R5. At these points, momentum may slow or stall completely. Currently R1 is shown at about 33 9/16. This point may fall easily, on volume. Then R2 would be the next potential resistance point. These points are based on where prior movements slowed and stalled, hence the line are drawn. This is similar to the 32 5/16 resistance point I mentioned a couple of weeks ago. the stock didn't have it's fundemental direction changed, but the movement between resistance and support offered an opportunity to trade the stock or the options. Overall IOM's chart looks very good with a price target shown at about 40.5 at R5... when is it going to hit... I don't know, but that resistance line has been run at four times before and held. Is this time different, probably, but others are looking at this same chart. Not one I made, but they used the exact same techniques and have the exact same chart in front of them. When/if IOM gets near 40, the pattern will have developed even more and either a new target may be projected or a pull-back pattern may be forming. We'll see. the split may change the numbers, but not the shape of the chart. Disclaimer: But, you must remember that all of this is my opinion only, and does not represent any form of investment advice. AND the arrival of some out of the blue news article, product announcement, Greenspanning, SaDamming, etc, can not be predicted by the past movements of the stock price or the effects they may cause. Ben A. PS Hope that helped.... :-)