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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: MJ who wrote (6358)	3/12/2005 6:22:13 PM
From: Walkingshadow	Read Replies (2) of 8752

Hi MJ, Very nice chart.... RNWK formed a Doji on the 200 sma, which coincides pretty closely to the lower BB rail: stockcharts.com[w,a]daclyyay[dc][pd20,2!b200][vc60][iLg!Lyb20,2.0]&pref=G The long-term (3 year weekly) chart shows RNWK has been in a trading range for about 2 years now: stockcharts.com[w,a]waclyyay[df][p][vc60]&pref=G Although the 5 year chart suggests the trading range has been longer than 2 years, I think you can see that in 2002 RNWK broke to the downside, then formed a bottom and rallied into the current trading channel, where it has remained ever since. There are technical buy signals from extreme oversold levels: 139.142.147.218 Last week RNWK closed on a level of support formed by the regression line: 139.142.147.218 A rally to $7 looks likely.... very nice find. T

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