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Chart Pattern Interpretations
Last update:  February 2, 1999

   Stock Research - Enter the ticker symbol: and press

see Page 1 for support and resistance
see Page 2 for chart pattern grade, downside risk, and forecast
   
All Internet and Internet-related stocks are very volatile and could rise far above resistance levels or far below support levels.   Forecasts that appear on Page 2 and Page 3 could be well off the mark.
  

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EGGS Chart
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EGGS recently reported a third-quarter loss of 36 cents a share, far worse than estimates...gross margin from operations fell to 8% from 10.6%...frankly, the stock shouldn't be trading as high as it is.
BRCM Chart
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BRCM surprised the Street with fourth-quarter earnings that were eight cents above expectations, yet the stock is not acting well...look for choppy sideways trading action over the next month or so.
YHOO Chart
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YHOO is into its fourth week of base building...the stock should turn higher in a few weeks (if the Internet sector is still hot).
ENZN Chart
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ENZN has been inching higher over the last four months...its short-term trend suggests higher prices ahead; however, there is strong resistance at the '92 high of 17.
IVX Chart
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IVX has given its shareholders a roller coaster ride during the '90s...it rose from 4 in 9/90 to 41 3/8 in 1/92, then fell to 6 3/16 in 2/98...now, the stock is once again showing signs of life...recent momentum should carry the stock higher in the short-term.
ITEC Chart
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In an effort to jump on the Internet bandwagon, ITEC recently launched an E-Commerce Web site to expand distribution of its digital imaging and software products...sounds nice, but the stock will probably fall back below $2 a share.
EBAY Chart
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eBay popped 82 5/8 after announcing better-than-expected earnings...it has given a huge chunk of that gain back over the last four days...the stock is building big resistance at the 300 - 320 area...look for the stock to trade sideways in a wide range.
CSCO Chart
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CSCO is still showing strong positive momentum; however, a sideways correction here is needed to eliminate its very overbought readings.
MTC Chart
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MTC fell sharply in October after the merger with American Home Products (AHP) was called off...the stock bounced nicely off the January 19 low, but it'll probably run into stiff resistance around the 52 - 54 area.
CNKT Chart
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It's a positive sign that CNKT is still trading above the December 28 high of 3 15/16; however, it could fall to the 3 to 3 1/2 area if severe profit-taking hits the Internet sector.
AMTD Chart
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When I reviewed this stock on January 18, I said it was going to trade sideways in the short-term...well, so much for that prediction--the stock has more than doubled since...Again, I'll say it will trade sideways in the short-term as it's very overbought...the long-term outlook remains bright.
DCLK Chart
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After rising 116% this year, DCLK needs a little rest...strong positive momentum, however, could carry the stock higher in the short-term...down side risk is very high.
YHOO Chart
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YHOO has recovered about half of its Jan. 11 - Jan. 21 correction...the stock still has strong positive momentum, but it would be surprising to see it take out its high any time soon.
FSR Chart
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FSR has a nice long-term chart pattern...it was very smooth before it ran into turbulence back in August...the stock is currently taking a little breather after its huge run in December...FSR should resume its up trend in a couple of months.
ACTC Chart
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ACTC is up 104% from the October low, but it's still in a long-term down trend...the stock could go a little higher in the short-term; however, it will probably trade lower in the long-term.
IMCL Chart
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IMCL spent the last 2 1/2 years bouncing between 4 5/8 and 13 7/8...I don't see much happening over the next few months.
QWST Chart
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QWST has strong positive momentum...the stock will move higher if the market does not suffer a serious correction.
CMCSK Chart
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CMCSK has strong positive momentum...the stock will move higher if the market does not suffer a serious correction.
FDS Chart
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FDS has strong positive momentum...the stock will move higher if the market does not suffer a serious correction.
NTAP Chart
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NTAP has strong positive momentum...the stock will move higher if the market does not suffer a serious correction.
EGRP Chart
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EGRP has strong positive momentum, but it's very overbought...the stock needs to build a base before moving higher.
SUNW Chart
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SUNW has strong positive momentum...the stock will move higher if the market does not suffer a serious correction.
IOM Chart
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IOM's chart recently broke down after the company issued an earnings warning...the upside momentum was killed...now it looks like the stock will trade sideways.
AOL Chart
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AOL is currently building a base between 130 and 167...the stock will probably break out to the up side in a few weeks.
CDNW Chart
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After its spike in November, CDNW has been trading in fairly narrow range...look for more sideways action in the weeks ahead.
MSPG Chart
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MSPG is forming a bullish triangle pattern...the stock will likely move higher in a few weeks.
ATHM Chart
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ATHM is also forming a bullish triangle pattern...look for higher prices in a month or two.
INGR Chart
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INGR has been steadily falling since 3/86 and is now near an all-time low...the stock would make a good short sale candidate on any significant rally.
NXLK Chart
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NXLK has a very erratic chart pattern...the stock fell from 41 in July to 10 in October, then bounced up to 34 in November before falling to 22 in December...now it's at 44...if you like to gamble, this is the stock for you.
TOPP Chart
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After sliding from early '92 to mid '98, TOPP is making a small comeback...long-term down trends are difficult to break...chances are the stock will fall back to the mid 3s.
MRK Chart
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MRK's monthly chart looks relatively smooth, but the stock loves to bounce all over the place on a daily basis...look for more choppy sideways trading action in the months to come.
WCOM Chart
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WCOM is still showing strong positive momentum, but it's very overbought...the stock will probably move higher in the short-term, but a sideways correction lasting a couple of months would be nice.
ELNK Chart
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After spiking to the mid 90s earlier this month, ELNK has come back down to its trendline...if the Internet frenzy is still alive, ELNK will slowly move back up...if the frenzy is dead, ELNK will bounce sideways.
IMON Chart
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After looking at IMON's chart, I'd say the Internet frenzy is still alive and kicking...shares of the development stage company shot up from 1 3/16 to 10 1/2 this month after it said it will release the Internet's first "Supra-Search Engine" known as WebZinger 6.00...the stock will probably move higher in the short-term, but spikes usually end bad.
CSCO Chart
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Cautious investors wanting to get some exposure to the Internet have pushed CSCO's shares into the stratosphere...momentum is still strong, but a correction is needed.
PKD Chart
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Shares of PKD have been sliding since 10/97...it recently bounced from 2 13/16 to 4 11/16, but it's still in a strong down trend...the stock still needs to create a bottom before a significant rally can occur.
UCL Chart
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UCL has been bouncing lower since 10/97...negative momentum suggests the stock will test the December low of 28 5/16.
CEPH Chart
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CEPH is up 110% from the October low, but its long-term trend is still down...the stock is at a critical point as it's near the top of a down trend channel...it needs to close above 13 to break the down trend.
GBLX Chart
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GBLX still has positive momentum, but the telecom stocks need a correction...look for choppy sideways action over the next few months.
PTVL Chart
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PTVL's chart looks a little better now than it did a few weeks ago...the Internet stocks are currently under some selling pressure which could hurt PTVL in the short-term.
TXN Chart
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TXN's chart looks exactly like Intel's (INTC)...TXN's earnings are strong and the stock has nice positive momentum...look for higher prices once the correction in the technology sector is over.
GDT Chart
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GDT is currently building a base after a huge run from October to December...the stock will likely trade sideways for several weeks before beginning another leg up.
VLSI Chart
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VLSI has spent the last three months building a bottom...the stock could rally to the 15 - 17 area within the next couple of months; however, the long-term outlook is cloudy.
CYT Chart
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CYT is not quite done with its bottoming formation...the stock will likely test the 15 - 17 area.
STA Chart
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STA's long-term chart suggests further down side action.
MSFT Chart
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MSFT still looks strong...there are many investors out there waiting for MSFT to dip, but the stock just doesn't give them an opportunity to jump in.
YHOO Chart
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The exuberance over YHOO's stock was a bit irrational during the first week in January...the recent pullback is nice to see...in fact, it would be very nice if the stock could build a base around the 300 level.
AMD Chart
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AMD has a hideous chart pattern...this is the kind of stock long-term investors should stay away from...AMD traded in the 40s back in '84, now it trades in the 20s...short-term traders should also avoid this one...it's too difficult to tell which way the stock will go from here.
CNKT Chart
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Boy, if you bought CNKT in early November, you would have already made 10 times your money... will the current spike look like the previous one back in early December?  I don't know, but the stock carries a high amount of risk.
AMTD Chart
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I think the last time I reviewed AMTD, I said it would go sideways...oops...well, it's tough to determine what these Internet stocks will do...this time, to play it safe, I'll say AMTD will go higher over the long-term.



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1998  VTO Capital Management.  All rights reserved.