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Technology Stocks : Raptor systems

RAPT 57.76

0.0%

Feb 4 3:59 PM EST

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To: Joe Wagner who wrote (9)	5/16/1996 2:31:00 AM
From: Bill Harmond	of 84

Joe, My observation is that RAPT is working off the excesses of its IPO through a trading range of 26-38. I'm building my position around the 30 area. The stock tried to break down a few sessions ago, but reversed up and it's on-balance-volume indicator has broken out to the a new high. My guess is that the stock might make it above 38 on this run (bonds permitting), then my target will be mid 50's, which I get by adding the percentage width of the trading range to 38. The fundamentals here are very good. HNC Software had a similar pattern for a couple months after it went public. Now that trading range looks like a tiny squiggle on the bottom left of its chart. Let's hope the bond market cooperates.

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