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Technology Stocks : Data Dimensions
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To: Nino who wrote (2347)7/29/1997 7:14:00 PM
From: Greg Hansen   of 4571
 
Some interesting things happening from a TA point of view.

Several of the oscillators/indicators are showing an oversold condition and suggesting a rally is close at hand. On the other all trend lines, including the famous 50 day MA touted by the longs for months; have clearly turned down and are still trending down. We once again approach the 21-22 area that has not been breached since early April, shortly after the split.

My guess is that the 21-22 holds again and we rebound towards the 50 day MA which by the time of the rebound will probably be down to 25 or so. I intend to cover tomorrow at 22 with the idea of re-entering up at 25 if all goes according to plan.
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