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Analog Devices, Inc. Message Board

  • theword414 theword414 May 28, 2004 2:32 PM Flag

    keypoint in SOX level - relative to ADI

    The Philadelphia Semiconductor Index (SOX) does not include ADI, but its movement does have an indicative effect on the stock as well as the trend of the Nasdaq.

    Currently, the SOX is wavering around the key point at the 487-490 mark. That's exactly where the resistance of the general downward trend of the index is. It's also the key level for the 200day SMA, if that ever matters to anyone.

    More importantly, the SOX is also hitting up very very high levels on RSI and Stochastics, and the last time that it's reached these levels, it almost immediately sailed back down to the downward channel support level. The major hits of this year were in Jan and early April. There were also smaller sell-offs in mid-Feb and about two weeks ago. Everytime right before it occured, those common indicators had signaled overbought levels.

    Well, those indicators are at play in the charts again.

    Anyway, if these indicators are right again and the SOX tanks, guess where ADI is going? I think you already by now.

    http://stockcharts.com/def/servlet/SC.web?c=$SOX,uu[h,a]daclyyay[pb50!b200][vc60
    ][iut!Ub14!Lh14,3]&pref=G


    But I said it's only a key level. If we pop it and breakthrough with tremendous force and convincing volume and strength, then who knows....

    happy trading.

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