Thursday, March 05, 2009 12:37:51 PM
Check out the 3yr, weekly chart. Many of the support/resistance lines I have in here go back for years, even beyond the period shown in the chart. (I do of course add to or adjust them as needed.) Notice that the 33.69 peak more or less corresponded to the peak in April, 07, that was the last high before IDCC took the plunge and that the price has not risen above since. That would represent a major resistance point and many would being looking to see if it was the point to sell. The RSI and stochastic also indicated that the stock was over sold. It was there that the momentum and strength indicators started weakening, signaling profit taking beginning to take place. It was clearly, IMO, a sell signal.
"does all of this TA, MF, or anything else really matter in the end."
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