Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Raptor who wrote (1947)	8/27/1998 1:28:00 PM
From: Melissa McAuliffe	Read Replies (3) \| Respond to of 4509

Raptor, I know you're not a fan of TA but I can understand how you can be bemused by all these 40, 35,32, etc. support statements. The whole thing about support is that there are different levels of support on the chart. So 40 might have been the first support. If the stock bounced off that strongly or stablized there and contined to bounce off that support level and didn't deteriorate from there one would say it's established support at 40. But if it goes through 40 it often times will then go to the next support level, e.g.35. And then the scenario repeats itself until it finally hits solid support and doesn't drop any further. Sometimes the 50 day MA becomes the support and then turns into resistance when the stock drops under the MA. I don't know about this strong support around or slightly under 30 statement. From just looking at today's chart it looks to me like 30 is becoming a new resistance point...at least so far today. Which could potentially mean support is somewhere below that. Ok....I know you don't want to hear this. I don't even know why I wrote it. Melissa