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Technology Stocks : Wind River Systems - Technical Analysis
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To: Mitchell Jones who wrote (46)10/19/1997 12:07:00 PM
From: Mitchell Jones   of 431
 
In the midst of Friday's mayhem,WIND quietly formed a "Doji" which normally signals a trend change. Because we are near support(which now lies between 37 and 38),we can reasonably expect a rally early next week.Resistance now lies between 42 and 43 and I would expect a test of that level during the coming week.

We have absorbed a lot of good news lately with little price appreciation to show for it,but sooner or later the cumulative effect has to exert its influence and move us out of the tight trading range that prevails.

I was pleased to see that the hiring freeze Stephen reported has apparently been relaxed. I infer that the quarter numbers are likely pretty secure.

Mitch
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