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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: bodie who wrote (21419)	12/26/1998 2:33:00 PM
From: Sam Scrutchins	Read Replies (1) \| Respond to of 213173

bodie, I strongly recommend that you obtain a book like "Technical Analysis of Stock Trends", by Edwards and Magee. Such books are available in most technical bookstores. They will explain to you the concepts of support and resistance, among many other things. Basically, the theory is that a buyer of a stock who sees it fall out from under him, will frequently wait until it comes back to the value he paid for it before selling. This amounts to resistance. Apple is a popular stock among the types who are not likely to know much about market psychology, and it doesn't surprise me that a large amount of shares are available in this area even from three years ago. The chart pattern seems to support the theory. Sam