VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: FMK who wrote (18907)	3/31/2000 9:10:00 AM
From: Zeev Hed	Read Replies (1) of 27311

Fred, I turned "bullish" on VLNC the moment the floorless was removed (even partial removal was enough for me), but did not jump in until the technical picture improved last November on a breakout of $7. The technical picture right now has deteriorated, so I am taking a more cautious approach knowing fully that I may miss few bucks by selling at the top of the range, just to see the stock take out the overhead resistance. As for my medium term view on VLNC it is still a potential rise to around $65 by elections, except that now, I have to see at least two "breakouts", the $24 to $26.5 area and the $34 to $36 area. In the meanwhile I'll be satisfied "playing the channel". Good luck Zeev

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