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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: McNabb Brothers who wrote (1564)9/16/2000 12:29:55 PM
From: MeDroogies  Read Replies (1) of 2013
 
The common wisdom is that gaps back and fill. However, in this case, it may not happen because of the recent gap down. There's no doubt some will try to take their 42% gain, but a gap up like this is generated by believers in long-term health, and should soak up most of the supply.
This company has been undervalued for much of this year, as evidenced by the spin-off. Now investors are realizing the need to get back in. I agree the tight flag should form I see a trading range of 48 - 52 for a period of time.
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