VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Peter O. who wrote (2946)	5/21/1998 1:03:00 AM
From: Jibacoa	Read Replies (2) of 27311

<<<Have any ideas on how low the price may drift on intraday trading in near future? >> As I see it the nearest support is at 5.50 which was today's and yesterday's low as well as Monday.s high.If this is violated the next support is at 5.13 which is the close on 5/12, 4/14 and 5/15 as well as the high on 5/1. The stock at today's close of 5.88 is still on a near term uptrend with the closing price well above the upper limits of and envelope of 30 with with 15 of price.The 10 day average is above the 25 day average and the 25 day average above the 50 day average, which also indicates a near term uptrend. The closing price today is the high of 4/13 as well that of 2/11 and 2/12. The BOP has been positive for the past 6 trading days and the Money Stream for the past 3. On a longer term the stock has not yet been able to break the downtrend coming from the May 20,1997 high at 10.13 The 25 week average is above the 50 week average, but the 10 week average is below both. The stock has to close above 8.50 with good volume to give a strong buy signal.I remain long and patiently waiting but do not plan on adding more to my position as yet. All of the above is IMHO Bernard

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