Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: dwight vickers who wrote (9240)	3/13/1997 10:00:00 AM
From: Matthew Leo	of 42771

Dwight - To make sense of Novl now requires the use of oscillators. I much prefer my own MACD charts but they were destroyed when the stock gapped down 2. They need time to rebuild. In any case, these offer some direction to me. 1) 8 day RSI - indicates oversold, similar condition in recent past can be seen in the first week Nov. 96 (price moved from 8 7/8 to 11 1/2) and last week Dec 96 (price moved from 9 3/8 to 13) 2) Stochastics (parameters tailored to fit Novl trading action) - indicates price is poised for rebound. Similar signal was generated in July 96 ($10-12), September 96 (10-12), November 96 (8 7/8-12), December 96 (9 3/8-13). 3) Trading Envelope - We are oversold all the way out to a 55 day envelope - for me envelopes beyond that make little sense. 4) Altough not an indicator as such - it is a trading rule, Gaps fill. In my view if you're short cover, longs are looking up. Best Wishes - Matt

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