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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (7673)	1/5/1998 3:28:00 PM
From: prakash	Read Replies (1) \| Respond to of 13925

I Agree. Back in at 19 11/16. Prakash

To: Jon Tara who wrote (7673)	1/5/1998 4:51:00 PM
From: Douglas Webb	Read Replies (2) \| Respond to of 13925

For what it's worth, here's my analysis of the candlestick charts since the low on 12/15: iqc.com On 12/15 we hit a low just over $16. The next two trading days CREAF peaked at about $21. It then fell back to just over $18, which was 50% of the gain. A basic concept in candlestick chart analysis is that the 50% point in a rise will act as a support level, and there will usually be a fallback to that level before the rise continues. The support at $18 held for two trading days, and on the third day the peak of the previous rise was broken. This peak was acting as resistance (another basic rule) and now became support, at about $20. We rode this support level until 12/29, when the price started rising again, and we peaked on 12/30 near $22. Today's price action was the first notable drop since that first support level was reached at $18. Since then we peaked at $22, and today dropped back to $20, which is 50% of the recent gain. So, we've hit another support level. In the next few days, we should either begin to rise again (with a pause just below $22, probably) or break the support and fall to the next one, at $18. Comments? Doug.