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Technology Stocks : Avant (AVNT)
AVNT 37.58+2.0%12:16 PM EST
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To: Larry McColloch who wrote (1452)11/12/1997 1:09:00 AM
From: Mark Rutheiser  Read Replies (1) of 3441
 
The tape never lies. There are many people who are in the know before you, me and most investors. And this can be reflected in the charts.

Prior to the April decline, the chart was breaking down and setting up for a fall. The stock had formed a head-and-shoulders top. Next followed a break through the $25 support level, followed by a failed rally. Then just a couple of days before the big drop, the 200 day moving average started to turn south.

I think today it is just as vulnerable as it was then. Bad news could be just as strong as a catalyst as it was back in April.

Looks like deja vu all over again ;-)
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