Simple Technology - STEC Message Board

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Technology Stocks : Simple Technology - STEC

STEC 1.590

+65.6%

Dec 23 3:59 PM EST

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To: Rudy who started this subject	3/21/2002 8:55:47 PM
From: Rudy	of 36

STEC-Extremely compressed coil!!! With todays action, our symmetrical triangle is extremely compressed now. There is no conviction. I know this thing will make strong break out but cannot tell which way. 7.5 and 7 still constitute good support levels, should the breakout be downward. Then comes 6.5 and 6 (50DMA) as secondary supports. Depending on your entry points these can determine the downside risk. Upside potential would definitely be a new 52 week high at 9 or above. I strongly believe this coil will burst its energy very soon. Any move above 8 with strong volume will be upside breakout, and any move to below 7.5 with strong volume will be the downside breakout. We are compressed between 7.5 and 8. Negotiations between buyers and sellers continue but ready to snap. To protect sell stops, to get in or add buy stops can be used. Sell stops depend on different factors such as your entry point. Buy stop would be something like 8.25. Good luck to all. Rudy.

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