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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: Alan Gallaspy who wrote (3146)1/16/2001 5:10:06 PM
From: robert b furman  Read Replies (2) of 3813
 
Hi Alan,

I was expecting a slight correction to the mid point of the trade envelope it is pretty common.If we are to have a rise in price support MUST come at the mid point (34-36).

It is a common sign of a stock that is changing from negative to positive pschology to get support at the mid-oint rather than fall back down to the lower range of the teading envelope. With the positive divergences that have developed with Nvls - I'm really hoping for support here.

Earnings and the forward outlook will be the most likely catalyst.

Bob
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