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Strategies & Market Trends : Chart Formations

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To: Cola Can who wrote (242)	9/17/1999 1:39:00 PM
From: James Strauss	Read Replies (2) of 967

IFLO... Cola: There is a mini Descending Triangle formation with strong support in the 3 1/2 area... iqc.com Stochastics says it's oversold... That 3 1/2 support area has held on 10 previous occasions since June... Given the fact that IFLO has had positive earnings surprises in the last few Qtrs and has a new distribution deal with Johnson & Johnson it's likely that it will bounce off the 3 1/2 area to the upside as anticipation for the mid October earnings release nears... Jim

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