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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: hcirteg who wrote (12138)6/15/1999 2:58:00 PM
From: Rich Wolf  Read Replies (1) of 27311
 
Hi HC, Depends upon whether it penetrates and stays outside it, I'd say. Also, if you're looking at daily charts, might make more sense to look at where it closes (to be consistent). In general, I think this lower envelope is defining an excellent (re)entry point for the stock, and expect that our 'slow wave' of a rolling stock pattern will be basing here and moving up again. Usually, if you think it is following such a pattern, you'd be looking to buy at the bottom of the bollinger band. You might also want to compare the crossing of the slow and fast MACD curves for indication of the upmove. If you just use the band as a guide, you're guessing the move; if you use the MACD, you're waiting for confirmation of the move first.

Rich
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