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Technology Stocks : IFMX - Investment Discussion
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To: Gene Lee who wrote (11934)9/21/1998 1:04:00 PM
From: Robert Graham  Read Replies (3) of 14631
 
Yes, the trading pattern has changed on this stock. I am waiting for it to close above 6 and stay there before I can see this as a longer term reversal. Even though at this point I do see a longer term reversal as a possibility, I do not want to underestimate the impact of the overhead supply that is growing as this stock continued its selloff down below 6 and then 5 and now appears to be on its move up. This stock has definitely begun to encounter some of that overhead supply at about 5. There are a series of good resistances from where the stock is now at to 8 made up from previous price patterns and current MAs. After 5, 6 will be the next strong resistance that the stock will encounter.

Bob Graham
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