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

To: Hal Campbell who wrote (4522)	1/18/1999 3:36:00 PM
From: Michael Olds	Read Replies (1) \| Respond to of 17679

Technical Analysis. Technical Analysis Terminology. AXC as of 1/15/99. Terminology summarised from the most excellent Meta Stock User's Manual. Commentary Edited from the Expert Advisor in my Meta Stock program. The following list consists only of those Technical indicators I find useful. There are dozzens of others! Bollinger Bands. A type of envelope (an envelope is comprised of two moving averages, for example 21 day closing highs, 14 day closing lows) where envelopes are plotted at standard deviation levels above and below a moving average. Here: Number of periods: 20; simple moving average. 322.17 wider than normal. Suggests high volatility and probability of volatility decreasing and prices entering a trading range. (The probability of prices consolidating toward a less volatile trading range increases the longer the bands are abnormally wide. The bands have been this wide for 6 periods) Candlesticks: Candlestick charts display the open, high, low, and closing prices in a form similar to a modern-day bar chart. I use a version called Candlevolume, which makes the box a proportional width to its percentage of the total volume displayed on the chart. The last three candlesticks were all significant bear signals. Cande Momentum Oscillator: Uses data from both up and down days; calculates on unsmoothed data (shows extremes); scale is between +100 and -100. Overbought is above 50, oversold -50. Current Value: 36.5854, Directional Movement: Involves plotting the 14-period + DI (Demand Index: combines price and volume in a very complicated calculation) and the 14-period -DI on top of each other. Positions are taken by buying when the +DI rises above the -DI, and selling the reverse. (There are methods for eliminating false indications.) The last signal was a Buy 11 periods ago. MACD (Moving Average Convergence/Divergence): calculated by subtracting the value of a 0.075 (26-period) exponential moving average from a 0.15 (12-period) exponential moving average. The signal line is a 9-period dotted exponential moving average. A sell is generated when the MACD falls below its 9-period signal line, a buy by the reverse. Currently bullish, not overbought, no divergences Momentum Indicators: The momentum of a security is the ratio of the day's price compared to the price x time periods previous. (Stochastic Oscillator, Relative Strength Index, MACD) Moving Averages: A moving average is a mehod of calculating the average value of a security's price over a period of time. An average is taken for a fixed period of time and moves forward each period that elapses. (for example: 21-day moving average of closing highs) Relative Strength Index: (RSI) Compares the internal strength of a single security using the formula: RSI equals 100 minus 100 over 1 plus an average of upward price change over an average of downward price change. The RSI is a price-following oscillator that ranges between 0 and 100. Tops above 70, bottoms below 30, usually in in advance. Current value: 66.36 Standard Deviation: A statistical measurement of volatility, measures the standard deviation from an average price. Standard Deviation Channel plots two parallellines above and below an x-period linear regression trendline. Linear Regression is a statistical tool used to predict future values from past values. A linear regression trendline plots a straight line through prices so as to minimize the distances between the prices and the resulting trendling. Current standard deviation plotting from 2/96 is to 5.25 on the upside, downside below 0. Stochastic Oscillator: compares where a security's price closed relative to its trading range over the last x-time periods. Ranges between 0% and 100%. 0% shows that the security's close was the lowest price that the security has traded during the preceding x-time periods. 100% the highest. Overbought above 80, oversold below 20. Currently 56.3636 Support and Resistance Levels: levels found by drawing trendlines between sets of lows and sets of highs. Support at 0.75 Resistance at 2 Not really. Things have been so out of whack for so long that support is probably higher (1.375); Resistance is probably going to be non-stop all the way to 7. Statistical Analysis: Analyzes a variety of statistics to determine the trend. Current: The current slope of the close is positive moving higher indicating strength of the medium term uptrend. Higher than normal volitility around the trend indicating that traders are probably not in agreement. Tushar Chande: Price Bias: upwards Short Term: moving Intermediate Term: trending Note: extraordinary price action to the upside PS: vulnerable to a correction to 1.37 Equis Trend Analysis: Summary: The current market condition for AMPEX is Very Bullish. The close is above it's 200 period moving average The close is above it's 90 period moving average The close is above it's 30 period moving average. Hal: If you know of some way to post without it being a response to someone, please let me know. Best Wishes, MO