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Symantec Corporation Message Board

  • juryman07 juryman07 Jul 5, 2002 11:05 AM Flag

    34 looks like the key resistance

    Short Interest is high relative to most techs whose short positions have generally declined as they fell and fell.

    Right now stock is over 50-day ma and NASDAQ is back above 1400 convincingly. I think we'll see 42 by month's end.

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    • you must be $hittin me boy....the weekly has intersecting ganns @35.45 in the midst of wave channel clusters to drop from terminal south.


      • 1 Reply to sage_mm
      • I'm not sure what you said. Sounds too arcane.

        But I do know that going back above its 50-day ma, SYMC is on track to go higher. To soar, in fact, because of the large short position who were suckered in by the chart pattern, a late-developing head and shoulders pattern.

        Our software shows that using that simple concept would have gained a trader 52.9% including commissions, buying and covering on moves past that average and selling and selling short when it was violated.

        SYMC's OBV made another all-time high today. Aggressive buyers want this stock. And its level of patient accumulation is higher than 98% of all tech stocks.

        Buy it Monday if it opens down because it's starting to close very powerfully.

        I'll post a new chart of it this weekend as viewed by our software.


25.91+0.11(+0.43%)Nov 25 4:00 PMEST

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