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Technology Stocks : Mattson Technology
MTSN 3.6000.0%May 12 5:00 PM EST
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To: Q. who wrote (1394)6/20/1999 5:31:00 PM
From: Philip W. Dunton, Jr  Read Replies (1) of 3661
 
John G. When you speak of 10 resistance, I assume that you are speaking of the 10-11 area. When MTSN broke out of the triangle formation at 7 a few weeks ago, I measured a move to the 11 area. It really did achieve that short term objective with the move to 10 7/8. Now, it's digesting that gain and a pull back of 50% to the 9 area would be normal. I see the next resistance area at 12 and then major resistance at 15-16. If it gets past 16, MTSN should get back to its all time high over the longer term. Of course, that would take a strong and lengthy chip up cycle, full participation by MTSN in the good times and a decent overall market for tech stocks. Phil
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