VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Pallisard who wrote (6355)	12/29/1998 9:10:00 PM
From: Zeev Hed	Read Replies (1) of 27311

Pallisard, actually the IEI is about neutral, it becomes negative (and thus positive for the stock) when die hard bulls start to utter notions like "I wish I never heard of this stock" (read the HEC thread, it IEI is now pretty close to a turnaround, many of the die hard bulls are uttering these kind of utterances). As for the technical picture, we still are suffering from weak momentum right now, and thus a successful test of the lower part of the current trading range (to $5 or so) is a possibility. If that support is breached, it should be an indication that Mr. Murphy had another trick up his sleeve. The best technical performance would be holding five in face of a rout in the general market. That would indicate very serious accumulation in the low $5, INHO. I think such a test may come next week. My own buying will be in the low $5 with a relatively close Stop Loss, just as I did in my last trade. I am not ready to be a long term investor in VLNC yet, for that I really need to see more actual delivery on the "dream". Zeev

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