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Technology Stocks : Equinox Systems (EQNX)
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To: Scott H. Davis who wrote (282)3/6/1998 2:24:00 AM
From: HeyRainier  Read Replies (1) of 765
 
I'm fairly concerned by the price action for Equinox. I'm seeing fairly bearish readings across the board, as disconcerting as it is:

1) Trendline Failure: this is what concerns me the most; the trendline was established at $17.125, yet it closed below that level with Thursday's trading.

2) Stochastics still remain in a bearish configuration; no crossovers have occurred yet;

3) RSI crossed below the 50 level on 3/3/98.

4) MACD is bearish.

5) Coinciding bearish signals for the Omega Research Expert Analyst (short term) and the Larry Williams Expert Indicators.

Admittedly the fundamentals are attractive, but it is hard to avoid the realities of the technology fallout the market has experienced (and will continue to experience) this week. The only two positive technical signs are the Inverted Hammer and Bollinger Band signals you provided.

I will be monitoring this closely, as the technical characteristics have me concerned for the near term.

Regards,

Rainier
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