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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (8957)3/6/1999 2:29:00 AM
From: Pallisard  Read Replies (2) of 27311
 
Zeev , nice try but no cigar.

The Dow has almost no relevance to Valence, except EXTREME correction.
As Jibacoa said, the $7 level is firmly intact.
The OBV is still positive.
The MACD is neutral to slightly bearish.
The stochastics are just beginning to TURN UP at a low cycle bottom.
The accumulation/distribution is still positive.
The money flow is still positive.
And red candlesticks...well I know you'll find a place for them. :-)

The technicals are stable and indicate a modest movement with a slight upward bias in the abscence of PR. It looks as though the price may ride this trend line steadily up to 8. I think the shorts will start to become apprehensive next week. IMHO

Pallisard
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