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

To: Ed Perry who wrote (3948)	12/4/1998 10:01:00 PM
From: Ed Perry	Read Replies (1) \| Respond to of 17679

Some TA stuff. ......................................... The 10/8 swoon which closed at $.81 may be tested again. The rally which followed, which ended at 1.13 on 10/22, smack in the resistance of 1.13 - 1.31 from trading since 8/31, failed. The two maybe rallies of 11/4 and 11/25 were of even less consequence. Next week should be interesting. That the rally ending 10/22 failed to carry through the resistance overhead is of no consequence. As is often said "First rallies fail after a sell off" day(10/8). However, how prices (and volume) respond next week will be important. If price sags to around $.81 without a volume follow through and then drift, then we have no change. If they sag or thrust and then firm up say closing at even as little as .93 then we will have a successful test of the closing low of $.81. This will set the stage for a turnaround in trend. The turnaround, would then be signaled by closing above the resistance of the 1.13 -1.31 range. In a cautionary sense, pending surprise announcements, I am not expecting such closing to occur before mid February (about the time of the next 10Q). Ed Perry