VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (13258)	7/21/1999 4:44:00 PM
From: John Curtis	Read Replies (1) of 27311

Support levels? See below: Based on this YTD(Year To Date) chart it appears a major support level is $6, which held today: bigchart.com If it breaks through that floor with conviction then the next support looks to be at ~$5.25 based on a one year chart, though I'll have to admit it's a tenuous floor: bigchart.com After that the next stop is ~$4.50. It'll be interesting to see how the next couple of days play out, although I won't have much time to follow it closely as I've got a fair amount of things on my plate right now(you can bet I'll be looking at it in the wee hours though, heh). Note the last time it punched through $6 on the downside was back about this same time in March. So to my way of thinking, although the low end is being tested, VLNC's range-bound aspect is still intact. But the next few days are critical, eh? As for your X-mas hypothesis....hmmm....nah.....I'm more inclined to think some margins are getting called. That plus the financing issue, and lack of any substantive OEM p.o. to date, may be making folks cautious. Oh, and let's not forget the market over-all ain't exactly user friendly right now, so I'm sure that's causing some folks to move monies around to cover other plays. All of this is imho, of course. Bottom line? Let's see how the next few days goes.... John~

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