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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

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To: Mighty_Mezz who wrote (18049)	6/5/1998 3:25:00 PM
From: Raymond James Norris	Read Replies (1) of 31646

FWIW, TAVA seems to be forming a small coil (you must be thinking, "Hooray! More TA!! Right?? <g>). What is a coil? It's simply when Bulls and Bears both get weaker and ends when eventually one of the two breaks away with a fairly strong move. In TAVA, the bears brought the stock down to 8 3/4. Then the Bulls drove it up to 11 1/18. Then the Bears drove it down to 9 3/8. This was higher than the first point of 8 3/4. The bears had grown weaker. So the bulls took over and drove the price up to 10 3/4. Again, they couldnt manage to get it back to 11 1/8. They had grown weaker.. And that brings us to today. The bears took over and brought the stock down this time as low as 9 5/8 - higher than the previous level of 9 3/8. Bottom line is one will prevail in the near term future (i.e. early next week). Usually in TA, this indicates the stock will make it back to one of the extremes - 8 3/4 or 11 1/8 for a retest (which both as I pointed out earlier are Fib retracement levels). I hope its 11 1/8...... Conservatively Yours, Raymond J. Norris

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