VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: Kevin Hay who wrote (3921)	7/27/1998 8:43:00 PM
From: DanZ	Read Replies (1) of 6565

The following article came out after the close of trading today. It could very well spark a rally off support for both VLSI and the SOX. It echoes my sentiments exactly as I too think we are in for an extended bull market in semiconductor stocks. biz.yahoo.com It wouldn't at all surprise me if support for VLSI moves up about $1 a share since the book value reported with the June earnings increased $1 per share. The previous low was in the 14 1/2 to 15 area so it stands to reason that the low now will be in the 15 1/2 to 16 area. In addition, the daily stochastic is now oversold and the money flow was positive today and Friday despite the stock being down both days. This indicates accumulation of the stock. VLSI is also trading very close to its lower daily bollinger band, adding more support. The SOX also tested support at 243 and rallied into the close. I view this as very bullish and would look for some follow through tomorrow. The SOX has resistance at 256 and then 272. It closed today at 251.81 with a low of 243.04. Best of luck to everybody. Dan

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