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Technology Stocks : Mattson Technology
MTSN 3.6000.0%May 12 5:00 PM EST
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To: creddell who wrote (3327)3/13/2001 1:59:07 PM
From: Philip W. Dunton, Jr  Read Replies (1) of 3661
 
Chuck, The upper resistance right now is 17, because that is where the 200 day moving average is. When I gave my chart interpretation back in late December, I believe I stated that there was some resistance at 12,then more significant resistance at 15. I also believe I stated that, should MTSN break thought the 15 resistance, it could work it to the high teens (because that was where the 200 day MA was at that time). However, the 200 day MA has now trended down to 17 and you can see from the chart, that's the level where there is significant resistance. Therefore, it is not surprising that last week's rally stopped at exactly that level. The measured moves that you refer to are more meaningful when a stock is in an uptrend. However, MTSN is still in a base building process. Phil
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