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Technology Stocks : US Robotics (USRX)
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To: Rambi who wrote (3)7/31/1996 6:10:00 PM
From: george saintonge   of 51
 
USRX---i just looked at the daily and weekly charts...first the stock
had support at 90...that broke and 75.5 was next support...that broke
and stock traded down to 58.5 and then back up to 77...failed and
broke hard to 52. we are now down approx. 50% from the high,
which would be a good retracement level from the high...if 52
doesn't hold then 62% retrace would be around 40...and i do recall
watching USRX triple bottom over the course of two days back in
january at 33 (it was 66 but 2for1 split since then)

When i was at ML, they sent aroud a report showing that all the great
stocks went through corrections of 50 % or more ...this was acting
like one of the great ones for the 90's.
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