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Technology Stocks : BORL: Time to BUY!
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To: James L. Fleckenstein who wrote (7072)11/3/1997 9:36:00 PM
From: MyStoxGoUp  Read Replies (1) of 10836
 
Support/Resistance:Borland

Support is generally the point at which there is more demand than supply. This is usually a price where a stock has bottomed out in the past. If a stock has traded at a price for a significant time than it is said to have a base,at least 5 sessions constitutes decent support.
Borland has strong support at 8-8.5 and 9-9.5. it has stayed in the 8-9.5 range for quite awhile,thereby demonstrating strong support. It has demonstrated strong resistance at 11, only able to pierce this briefly on the heals of a great earnings report and conference call. Closing above 10 for at least a week would give us a new base of 10. assuming a new base of 10,hopefully with some sort of catylyst,ie. analysts rec.,big sales contract,strategic alliance,we can pierce 11 with strong volume and trigger some kind of meaningful rally with high volume and as a result, strong upside momentum.
PHIL
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