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Technology Stocks : EFAX.com - easy-to-use fax-to-email technology
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To: Brasco One who wrote (1118)6/2/1999 5:08:00 PM
From: Trader X  Read Replies (1) of 1197
 
Price trend reversal in gear.

Resistance at 15, we should see it react back from 15 - 15 1/2 in the next 3-4 days to about 14, then the bottom will be cleared on a break of resistance near 15 1/2 on strong volume. The next resistance level will be back at 19 1/2.

For confirmation, look at other internet related issues like XCIT, also making a reversal pattern in the last 3-4 days. I would buy XCIT at 133. The fact that money is coming back into this group tells me that the group is getting ready for another up surge. EFAX has only traded down in sympathy with the internet group. Compare a group of charts in this sector to confirm this yourself.

-Trader X
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