MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: Greg h2o who wrote (11166)	11/3/1998 4:08:00 PM
From: Bruce L	Read Replies (3) of 42804

Greg: Look at MRVC on a 15 minute chart. For the past 3 days we've been stair stepping. The stock each day has run out of steam and consolidated for hours at 6 3/4, 7 3/8 and now 8. No more than +- 3/16 during these periods. You could be right that this time (at 8) we finally pull back for some profit taking. But there's not much from the chart that suggests this should be true. (On 9/23 we had a wild day ranging from 7 1/2 to 8 7/16). And if we close at or above 8 today, I would be betting against it; it would be another near perfect marubozu. Then again, the pattern isn't so much different from a "deliberation" , a 3 day bearish reversal pattern in candlestick charting. For this pattern to have much validity, it would have been better to have had a gap up this morning and then more of a spinning top. Just thinking out loud. Right now we're back to 7 13/16.

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