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Electronic Arts Inc. (ERTS) Message Board

  • Raphael8 Raphael8 Oct 2, 1998 12:41 AM Flag

    Uptrend intact. Very nice close for ERT

    Geez. I hope nobody is losing any money because
    of me. I apologize to everyone that I didn't list
    $42 as low end support for today. I guess I'm too
    much of an optimist and just didn't think we'd hit it.
    Though that clearly was the strong support, and it's
    defined by the Daily chart, not 5-min or 15 min. Now,
    with that out of the way...

    We held up
    incredibly well today with a percentage loss below that of
    all the averages. Volume was solid, clustered at the
    moves upward with the exception of the morning drop,
    and the best volume spike came at the close with a
    rapid climb from 42 3/8 to 42 7/8. 42 7/8 happens to be
    the near term resistance line formed off the early
    morning low of 42.5, when it was support, so I'm not
    surprised we stopped there. Hell, I'll confess I tried to
    get an order in to sell my margin shares there but
    the market closed before I could get the %#@$* order
    off. (Can you tell I'm a peon trading on the
    Internet?) Just as well, that move up broke us out of the
    downward move and should ensure that we don't see 42
    again. We're on the way up. Maybe big
    time.

    Support tomorrow at 42.175 according to the Daily chart.
    Resistance at 44.825 and 45, so that might be a tough one to
    crack. I'll personally be happy with just higher lows
    and no higher high as we consolidate more for a big
    move up. I have only a little powder dry, and I'd like
    one last good shot on a clear breakout.

    For
    those who are NOT trading like madmen, we should hit at
    least $46 on this move up. That's where the 10-w moving
    average is, and the stock price seems to want to seek it
    out near earnings time. We could overshoot into the
    50's again. Market willing, of course.

    Good
    luck to all!

    PS: Thanks for all the great
    recent posts. This board has shaped up nicely over the
    last few weeks.

 
EA
35.05-0.64(-1.79%)Oct 22 4:00 PMEDT

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