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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: shasta23 who wrote (3982)6/24/1997 11:51:00 PM
From: Trader X   of 42804
 
Stefan, like you said, historically 29 was resistence.

That sums the story on the support level now. i understand what you mean about 27, but that was a minor resistence level, part of the overall upswing. After 2 earlier attacks at 29 in the past year were thwarted, that was the big number to breach. Also, 30 is psychologically significant. Many money managers will not even look at a stock that's under $30.

Kevin
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