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Technology Stocks : BORL: Time to BUY!
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To: Ghassan I. Ghandour who wrote (9219)2/26/1998 9:28:00 PM
From: Sam Scrutchins  Read Replies (2) of 10836
 
Ghassen and all,

I've tended to be a traditional technician, relying on triangles, rectangles, and heads and shoulders and trendlines to make my calls. Working with the RSI and divergence issues is new to me. I'm not sure what it means, but there seems to have been a significant 'positive' divergence today showing on the 5-min, 5-day chart.

chart2.bigcharts.com

The stock has reacted to the resistance at 9 3/4 to 10 by falling to 9 1/16 (so far). Perhaps this is an indicator that we have formed a little pennant and are in the process of bottoming. The timing is right if the market is nervous prior to the formal merger. Once it is consumated, perhaps the stock will begin another trend up. Here's hoping.

Sam
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