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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Pallisard who wrote (8966)3/6/1999 10:12:00 AM
From: Zeev Hed  Read Replies (1) of 27311
 
Pallisard, I cannot disagree with your statement, except that I typically look at the three months OBV (it gives me a better feel of "smart money"'s action) and it is still negative. You did not mention the RSI, which I think is somewhat important. The reason I bring up the technicals which are at best neutral, is that we are supposed to be pretty close to a major turning point in VLNC's travails. After all, by the end of this month we either have a sizeable PO or VLNC has to go back to the finance well. If the leaks were such that a PO was "imminent" I would have thought that the resistance at $8.625 would have been vanquished. Absence such a move, I am remaining quite neutral on VLNC. I must say that the technicals in ULBI do not look an iota better (if at all a little worse), but as I stated, there the price has at least a theoretical support from a high book value and ample of cash on the balance sheet.

Zeev
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