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Non-Tech : Any info about Iomega (IOM)?
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To: Glenn Omura who wrote (7561)9/25/1996 12:12:00 AM
From: JF Quinnelly   of 58324
 
The 21 resistance was described by a TA on a Los Angeles station; I only play with charting, so I defer to the pros. I'm just reporting what the TA said when asked whether Iomega had broken out. His statement was that IOMG needs to close over 21, and on high volume to establish a breakout above resistance. I'm more concerned about the valuation being given Iomega. It certainly didn't hold up when valued at 6 billion. Now its around 2 billion. If it runs up quickly it won't support the high capitalization. You need sales and earnings, not momentum plays, to support a higher stock price.
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