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Technology Stocks : Mattson Technology
MTSN 3.6000.0%May 12 5:00 PM EST
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To: Bill Hermesmann who wrote (1762)9/16/1999 5:29:00 PM
From: Philip W. Dunton, Jr  Read Replies (2) of 3661
 
Bill, You are exactly correct. As I look at a weekly chart of MTSN, that triangle formation in 1997 turned out to be the top in the stock. Now, if you were a chartist, breaking out of that triangle on the downside at the 13-14 level would have been a sell signal. Acting on that would have saved one a ride to the $2.00 level. You have just confirmed how valuable charts can be. I have been saying for two weeks now that MTSN needs to break out of the triangle formation to the upside in order to confirm its uptrend. That hasn't happened yet. If we were to break out of the triangle to the downside (not likely in my opinion), that would be a bearish sign and perhaps a sell signal similar to the one we saw in 1997. Phil
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