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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Dennis V. who wrote (6795)1/6/1999 4:53:00 PM
From: Pallisard  Read Replies (1) of 27311
 
Dennis, the head & shoulders formation has played itself out and is no longer in force, as I suggested last week. However, if you'll look at the right side of what WAS the H&S, you'll see a steep downtrend starting in early Nov which has now been decisively broken to the upside in the last 3 or 4 trading days. Getting thru the low 8's to close at 8 5/8 would confirm the recent chart activity suggesting a steady accumulation by "returning" investors. The latter might carry us to just under 10 without significant retraction. IMO
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