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Technology Stocks : Seagate Technology

STX 278.47

+1.0%

Nov 6 4:00 PM EST

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To: Sam who wrote (7541)	9/23/2009 10:32:01 AM
From: Sam	Read Replies (1) of 7841

Seagate technical note: Normal price channel movement 09/23 10:16 AM The stock did not break out of the bullish price channel, which has been stable and in place since late March. On a weekly basis, the six-month rally leg is classically bullish, stable, with the 10-week moving average as the lower bound of the price channel, last at $13.42. Unless that moving average is broken to the downside, the chart remains bullish. There have been no distortions on the top or bottom of the channel in the prior six months. The big resistance level overhead for the stock is the 200-week moving average, last at $18.91. Resistance levels to watch as potential upside objectives are at $16.25, $16.53, $16.94. Support is at $15.66, $15.42.

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