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Technology Stocks : Corel Corp.
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To: bigcoley who wrote (8689)2/16/2000 10:34:00 AM
From: Scott Volmar  Read Replies (3) of 9798
 
The drop is all technical and actually a forerunner to a major breakout just ahead. Use the IBD's favorite way of picking a winning stock. That is to look at the chart and see if it fits the pattern of the "cup with the handle."

We have seen over the last several weeks a base forming at about the 20-22 level. According to the "cup and handle" pattern, this base forms the "handle" nicely. Now, the drop over the last week has been forming the "cup" part of the pattern.

We should see small increases over the next week to form the "other side of the cup," according to the pattern. At the point when the cup reaches the "handle" again, the stock is ready for a major breakout. Over the next two to three weeks, we should see a breakout that will propel the stock well above its recent $44 high.

Much Further Up,

Scott
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