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Technology Stocks : 3DFX
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To: Sun Tzu who wrote (8784)11/4/1998 6:21:00 PM
From: Sun Tzu  Read Replies (2) of 16960
 
I took a look at the weekly chart for TDFX and it looks very interesting. Today, for the first time since that famous week last April, we have crossed the mid Bollinger band into upper boundary. As a strong general rule, when you cross the mid point in a Bollinger band, you will end up hitting the upper end of the band. That upper end right now is just above 20. So my preliminary price target by Christmas is 20 (assuming we'll end this week and next above 14). But the band moves up along with the price. So the 20 price target may be too conservative. BTW, this is as much statistical analysis as it is technical analysis. Someone asked me how to measure the standard deviations for stocks. Using Bollinger bands is one of the simplest ways of doing it.

Sun Tzu
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