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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO
SYNT 40.990.0%Oct 10 5:00 PM EST
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To: Nanda who wrote (1789)6/15/1998 1:38:00 PM
From: R. Bond  Read Replies (1) of 2761
 
Nanda,

Technically SYNT is looking quite weak. A close below 21 3/4 today (the present bid) would look very bad indeed and reconfirm a downtrend in motion by making a new, lower low, out of the recent trading range and establishing itself below the 1/3 speed resistance line (which it has used as support recently & at the end of Jan.). Next support at 19 & 16 below this. SYNT has already retraced just over 50% of it's move up from under $6. How does this fit in with your views on SYNT?

Cheers,
Bond
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