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Technology Stocks : Vitesse Semiconductor
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To: EepOpp who wrote (436)2/8/1997 10:39:00 PM
From: Howard Bennett   of 4710
 
Will:

VTSS has been in a pretty solid uptrend since 12/16/96 ($399 3/8)

On 12/16/96, the 20-day Stochastic showed it was becoming "oversold" and the 9-day RSI was around 33 (low).

Moving forward in time to 1/31/97.. the 20-day stochastic has moved up above 75 (an "overbought" condition) and the 9-day RSI has hovered around 70 -- good relative strength.

Since 1/31/97 -- the stochastics had pulled back to the mid-50's and the RSI to the mid-fifties -- but that is likely due to the broader market decline than anything specific to VTSS.

The NASDAQ Advance/Decline line became negative (indicating a broader market decline) on 1/27/97 but has turned positive on 2/6/97.

My guess? VTSS is going higher....or at a minimum will be range-bound.
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