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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Gordon Quickstad who wrote (2687)4/18/1998 2:25:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Gordon: FWIW, Weekly Second Opinion, a TA site on the web has upgraded Valence from a buy to a strong buy. Must be something the computer sees in the chart squiggles that is beyond my limited TA capacities.

What I see from a positive TA perspective is a pickup in volume, with some indications the stock is trying to move northwards. But I don't see it as a strong buy from a TA perspective.

Also, I wouldn't rush out and buy the stock solely because Second Opionion upgraded it to a strong buy. About a month ago, Second Opinion upgraded Gasonix to a strong guy, and it was one of their featured stocks. The stock fell about 30% in the following week, and the next week's Second Opinion rating for the stock was a sell.
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