You’ve Got Mail – Reopening AOL Long or Short

• Posted by Greg Harmon
• on August 20th, 2014

Do you know anyone that has an AOL e-mail account? Or uses AOL to access the internet for a fee? If you answered yes then are those people over 60? There is nobody that uses AOL anymore that does not have grandchildren. At least that is what you are lead to believe. But the chart of the stock price says otherwise. In fact it has been broadly moving up since 2012 but with a slight pullback this year. But the rebound since May makes it look good for a trade right here.

Looking closely at the chart for the last 2 years shows a rising trend support and an important level at about 44. The first touch in November 2012 seemed to be a fluke but number of touches since November 2013 shows that was clearly not the case. Now it is back there again. And the momentum indicators are supporting further price action higher. Time to see if it has another ride to 51 in it on a move over 44. Or if the dial up modem does not connect and cannot get over 44 the ride back down to that support line. Either way it is a 15% move.

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