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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: otter who wrote (5181)2/11/1999 12:22:00 PM
From: DanZ  Read Replies (2) of 6565
 
Otter,

VLSI has shown good support at 10 and that's the main reason why I bought it this week at 10 1/8. Today's action makes the chart look better, and a close above 10 1/2 would look to me like a short term change in trend with a target of about 11 1/2 (middle daily bollinger band). The lower band is falling and I'd feel better about a sustained rally to the upper band near 13 if the lower band flattens or begins to rise. The money flow hasn't been good the past week but the stock has still been holding support. Putting those two things together, it would appear that there is quiet accumulation at the bid but there aren't enough takers at the offer to move the stock up. Once the money flow improves, I think the stock will push through 10 1/2 and move fairly quickly to test the next resistance area between 11 and 11 1/2.

Dan
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