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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Chip Anderson who wrote (3630)	6/1/1998 12:06:00 PM
From: Chip Anderson	Read Replies (2) \| Respond to of 16960

OK, for all you technicians out there: I've updated the long-term TDFX chart on my site. Check out coolhistory.com Here's what I see in this chart: TDFX is below it 200-day moving average for the first time in its (admittedly brief) history. Maybe more significantly, it is in its first clear multi-month trend - and that trend is down (thick red line). Until recently, TDFX has been more of a "trading range" stock. The MACD indicator gave a sell signal back on April 23, very close to the start of the downtrend. It has since moved below the zero line and continues to move lower. While I'm somewhat skeptical of this indicator, I know that _lots_ of people follow it. The On Balance Volume indicator (OBV) has been moving sideways since the beginning of May, although the 50-day moving average moved lower for the first time last Thursday. OBV combines volume with price action. When it moves up, it means that more shares are trading on "up" days than on "down" days. On the Support/Resistance front, TDFX is trying to climb back above the strong support level at 20. There is minor support for the stock at 18 and major support at 16. Notice that last year, the stock oscillated between 16 and 18 for quite a while. Disclosure: I'm long this stock (obviously for Fundamental, not Technical, reasons). FWIW, Chip coolhistory.com