International FiberCom, Inc. (NASDAQ- IFCI) Message Board

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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI)

IFCI 0.0600

0.0%

Jun 7 5:00 PM EST

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To: stockycd who wrote (2546)	6/23/1999 1:35:00 AM
From: Chris Helton	Read Replies (1) of 3541

when you say, "the technical picture turned on a dime today" I wonder which school of technical analysis you went to. It is not abnormal for a stock that moves upward 50% in a short period of time ($6 to $9/sh) to retrace up to 50% of that move on a consolidation. A retracment of that magnitude would be $7.5/sh. the fact that it closed at $8.12/sh (resulting in only a 30% retracement) on large volume is in fact quite bullish. If it stays above $8/sh or $7.5/sh I would conclude that the stock is in an upward trend. As it approaches $9.50/sh we need to see strong volume and a breakout that takes the stock higher than that. It is extremely premature for you to conclude that the technicals have changed at this time. In my 25 year experience analyzing stocks and managing portfolios professionally, I have never seen such a conclusion made by an experienced investor.

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