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Technology Stocks : FTIC - Forensic Technologies
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To: Nikita who wrote (88)5/6/1998 4:33:00 PM
From: David Rubin  Read Replies (1) of 118
 
You may be right, but the market needs to hold up for that to happen. The action over the past week is questionable. The stock is dangerously close to the 20 day MA. Since the earnings release there have been 3 up days and 5 down days. All of the up days including today have come on lighter volume.

The 50 day MA has provided support for the past year, except for a brief period in December-January. The 20 day MA has provided some support -- each time FTIC dropped below it came back within a few weeks.

I think if the market does well, so will FTIC. If the market gets stuck, so will FTIC. In either case I think 15 1/2 - 16 is solid support. If it breaks below that it will probably be only temporary and therefore a good buying opportunity.

I'm on the sidelines right now, betting that this will happen.
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