International Rectifier (IRF) Message Board

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Technology Stocks : International Rectifier (IRF)

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To: AL Benz who wrote (819)	10/8/1997 12:19:00 AM
From: DanZ	of 1712

Hi gang, I just wanted to let you all know that I don't really care for what's happening with the trade in IRF right now. As I previously posted, the stock has been undergoing distribution since September 8 and it didn't hold support at 21 1/4 yesterday. It rallied a little today, but it is still below what is now resistance at 21 1/2. Unless the stock closes above 21 1/2, I think there is substantial downside risk and I would be nervous about holding it. It has had a huge run, from 10 7/8 to 23 3/4, and looks ripe for a correction. The daily MACD turned negative yesterday as well. My downside target is 18 1/2 to 19 1/2. Just my thoughts, I hope I'm wrong. Dan

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