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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Alan Cassaro who wrote (3253)	8/18/1998 12:19:00 AM
From: Ed Perry	Read Replies (1) \| Respond to of 17679

* ...T A....A l e r t ... * I had become somewhat complacent on AXC but suddenly I'm noticing much stronger TA signals coming off the bottom day of Aug 7 (1 3/8). Specifically, there were seven red candles 8/7 thru 8/17. This up pattern has not happened in the last year (at least)of daily trading. Also, on balance volume is moving up from a low point not seen since Dec 97. Finally, Chaikin's money flow indicates an inflection turn after a decline of two weeks. The one puzzle is the thin volume - a curiosity more than a problem. Well, the ease of movement tracks this. There is not much for sale in these price ranges. AXC is simply moving up quietly and steadily on low volume. Out of these lows, this is acceptable and a bullish sign. Later, after several minor moves to the upside, volume should then be required to confirm the price movement. We might be looking at THE turn. Perhaps announcements will catch up with the technical pattern. If they do, then this technical pattern will not go unnoticed. Locally, there is resistance at 1 3/4 and then at 2. Without any news, there should be minor pullbacks from each of these levels. It pays to listen to what the price and volume activity are saying. Often the message is obvious but one is complacent or of a fixed mind. Ed Perry