MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: da_cheif™ who wrote (7818)	5/20/2001 9:32:03 AM
From: HairBall	Read Replies (1) of 19219

da_cheif: OT VLNC has been trading in a wedge from the April 2001 low which apexes on 6/5 (12.15), a little above the March 2000 falling resistance line. I am watching my multiple time frame indicators and am expecting an intraday to ST top prior to moving above the March 00 FRL. I am looking for a retrace of the wedge. This could occur as soon as early next week (good possibility it started Friday), but no later than before the end of May. If the VLNC price advance makes it to the March 00 FRL, that would suggest a top on 5/29 (+/- a day) at roughly around (10.75) area. Alternate scenario would have the big boys pushing or pole-vaulting the price above the falling resistance line followed by a retrace back to the line to test for support. That would be crowding the apex, but we’ve all seen it happen! IMO VLNC will a retrace the April rise before the next significant move up! The questions is how much of a retrace? My QCharts – VLNC (Valence Technology Inc) 65-Min Semi-log Chart marketdirectionanalysis.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG

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