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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: C E D who wrote (16603)	11/3/1999 1:36:00 PM
From: Bruce L	Respond to of 42804

<<where is the next support for MRVC?> On 8/26, 8/26 and 8/30 MRVC spiked up close to, or just above 19 1/2, only to fall back down again. So resistance would have been in the 19 1/2 area. On 9/8 we had a big move to close at ~21, so that resistance was taken out ... and per basic TA principles became support. Starting with 9/23 through 9/28 we tested - and pierced briefly - 19 1/2. The stock on 9/24 hit an intraday low of 18 3/8 but these penetrations were brief and mostly we closed near 19 1/2. So I'd say support is around 19 1/2. But, of course, we could penetrate it intraday. If we were to close at or below 19, I'd have to say the next support is a couple points lower. Bruce