Semtech Message Board - Msg: 3099493

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Technology Stocks : Semtech

SMTC 76.18

+0.7%

11:09 AM EST

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To: John F. Poteraske who wrote (674)	1/5/1998 9:30:00 PM
From: Todd D. Wiener	Read Replies (1) of 886

Unless some bad news emerges, SMTC appears to have bottomed. The high-volume breakout thru $40 today is quite encouraging. The next area of resistance is $44-46, the locations of the 200-day and 50-day MAs. If SMTC can reach $46, the next resistance is the mid-50s, wherein lies the 100-day MA and the previous failed breakout attempts. It's conceivable that SMTC will rally to the low-50s, fall back to the 200-day MA in the mid-40s, and breakout on news of a good Q4 (mid-February). At this point, the stock should attempt to revisit its previous highs. Technically speaking, SMTC is looking bullish. Gee, I wonder where our little TOMcat is? Todd

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