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Technology Stocks : Echelon Corporation (ELON) -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (1259)	3/11/2000 12:53:00 PM
From: Brian Gross	Read Replies (2) \| Respond to of 3076

O/49r, Thank you for the reply on the reading material. I haven't seen you post here for awhile, so I was hoping you could take a look at ELON's chart and tell me what you think. I'm just getting started on technical analysis and am not very good at this point. It looks like the stock should at least come down and touch its 13 day moving average($80), before moving forward again. The MACD fast line is still quite aways above the slower trending line, and if I'm correct, the time to take a chance and buy in would be when these two lines diverge. If it holds and moves up, it would be a bullish sign, and if it breaks below, a bearish sign and a possible move back down to the 50's. From a shorting perspective, the risk is about $8 of upside(cover if it breaks above $100), and about $35 of reward if it starts to downtrend. If you get a chance, please let me know how far off I am. Thanks, Brian