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Technology Stocks : Read-Rite
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To: Dennis R. Duke who wrote (3397)6/2/1998 10:58:00 PM
From: Gary Burton  Read Replies (1) of 5058
 
The various momentum indicators bottomed in early May when it hit 10. They have refused to go to new lows since then, setting up positive divergences---MACD, RSI, ROC, Worden's TSV for eg. That combined with the very low volume on the last move down from 9.25 suggests a turn up soon. Maybe we go to hi 7's first tomorrow, but I would not be short at the moment.
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