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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: John Curtis who wrote (24376)	6/8/2001 2:27:47 PM
From: P. Ramamoorthy	Read Replies (2) \| Respond to of 27311

John, Technical indicators are just that. Indicators but no guarantees! Last time, a strong triple top breakout fizzled out - due to a general market decline. According to technical indicators, the last month's upmove did not have strong support (double top breakout) and it fizzled at 10. Glad to see it fizzle. Similarly it did not have enough strength to break below 7 either. Also glad to see it held above 7. My original expectation as I posted earlier, was that the price had to go through the 10-12.5 area in order to move up into the mid teens and form a base (call it a "trading range"). Last two days of vigorous activity indicate some strength. Hopefully it will overcome 12.5 and move into mid teens. Just indicators! VLNC did not get the full credit for the Samsung licensing deal because of a weak market. Hopefully analysts will give some credit after the CIBC conference and after good earnings news next week. My two cents! Ram