Echelon Corporation (ELON) Message Board

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Technology Stocks : Echelon Corporation (ELON)

ELON 21.88

+10.1%

Oct 6 5:00 PM EST

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To: AE who wrote (2910)	1/16/2002 8:31:33 PM
From: John Madarasz	Read Replies (1) of 3076

Any thoughts about accumulating some more at these prices? gap support at $5.375 - $6.125 from 1/7/99 would probably be an objective spot to consider going long for a decent bounce...there is a ton of support there also from most of 1999 ... and that's the good news. The bad news is that this thing is in a classic bearish Head and Shoulders pattern technically, and if it breaks through $10, the pattern measures to $4.02. Depending on what the company says regarding revenue and earnings going forward, I'd think a good place to consider accumulating more shares would be somewhere between $4-$6...all bets would be off if the business model takes a turn for the worse, but if things look stable going forward, this thing will wash out with the rest market and fill it's gaps minimum... no question about that in my mind... none at all. Best of Luck, John M

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