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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Barbara Bullard who wrote (2422)	6/24/1998 10:17:00 PM
From: TechTrader42	Respond to of 10081

For someone who knows nothing about this stuff is it "good or bad" that the chart is forming a handle? Good in that it could break to the upside after the handle has taken shape. It might first dip down a little, to complete the handle. This was posted by Chip Anderson on another thread in March: Here's a CANSLIM-oriented definition of the C&H pattern taken from Stocks & Commodities, V. 12:12 (491-497): "The handle forms as a necessary process for setting up the breakout to new highs. During the formation of the right side, the stock may be subject to profit-taking at its old highs from sellers who bought at the cup's bottom. As the stock declines, buyers step in and smart money add to their positions to support the stock, forming the handle." But maybe GMGC just couldn't break through resistance at slightly under 15 1/2. With the Nasdaq reviving, though, maybe it'll move back up soon. On the other hand, volume wasn't spectacular today, and On Balance Volume -- another technical indicator -- was down. So I dunno. Brooke