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Technology Stocks : Xicor ?
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To: kblaine flaherty who wrote (253)6/23/1996 10:19:00 PM
From: dppl   of 2920
 
Can I jump in? I've been studying the XICO chart - don't own the stock and know only the broad-brush fundamentals - but it seems to me that there is a lot of retracing to be done here to fill in the rapid rise from 7 1/2 to 12. It seems tp me that the stock will rise a little to 13 but then will drop back to 8, unless of course earnings are a blowout. I see the same thing in a number of stocks - AMTX, ANCR, CUBE. This may be a special case, but the basic assumption is that the resistance is only as strong as the build up and XICO has had a fast move up.

It is possible to read the last 3 weeks as a double head and shoulders with a double bottom at 11. However I'd still be worried by that quick rise from 7 1/2 to 12.

Good luck

dppl
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