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Technology Stocks : Alliance Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (5924)	9/3/1999 1:34:00 PM
From: DJBEINO	Respond to of 9582

Alliance Semiconductor Testing Long-Standing Resistance by Theo Spradlin Alliance Semiconductor (ALSC) has posted two consecutive daily gains and jumped 13 percent after bouncing on its 21-day moving average line Monday. The stock saw its strongest upside volume of the year on July 29, trading 4.3 million shares and gaining 14 percent to close at $10 5/8 - establishing strong support at $10 1/2. The stock slipped below this mark briefly in early August, but pulled back on steadily decreasing volume which indicates strength as the drop could be attributed to profit taking. ALSC broke back above $10 1/2 on August 12, and has not closed below that mark since this breakout. The stock reached a new fifty-two week high, $12 5/16, August 23, fell again to profit taking and posted four consecutive losses - again on decreasing volume. Yesterday's gains occurred on relatively light volume, but up days for this stock are marked by stronger volume than down days - an indication of strength for ALSC. An ALSC 14 day Wilder RSI value of 62.5, indicates that the stock has more upside potential in its current run up. The stock has gained more than 400 percent in the last year. ALSC has broken a long term downtrend with its gains this year and has now risen to test long standing resistance at $12. A close above this mark soon on strong relative volume will clear the way for a run to $15. wallstreetcity.com