Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Don Earl who wrote (19962)	2/4/1998 9:19:00 AM
From: Spartex	Read Replies (2) of 42771

Don: I appreciate your feedback on technical analysis of Novell's price action. You mentioned strong resistance at 7.5, and now we are close to 8 bucks, on breakout volume. That's a bullish indicator in my opinion, and if it breaks through 8 1/16th on strong volume today or shortly, that bodes well too. I'm puzzled though that your tone in TA is bearish on NOVL. Are you shorting them now, or feeling bad you didn't buy more at 6 7/8s. Your comments are just puzzling. Nonetheless, I'm very encouraged at the recent resistance at 7 (high volume) and now high volume as Novell approaches 8+. Its about time. Whether it will hold, we'll see, but I like the direction and believe it is sustainable. Of course there are more resistance points at 9,10,11 and 12, and Novell has to get through those in due time to really demonstrate its longer term direction. Regards, Quad-K

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