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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Maui Jim who wrote (3097)	3/3/1998 11:13:00 PM
From: DanZ	Read Replies (1) \| Respond to of 6565

Jim, Thanks for the news link. I couldn't get to the second one that you posted but now I see that you edited your post and deleted it. I guess you had trouble too. VLSI looks like a good buy between 18 1/2 and 19 because it has a lot of chart support in this area. The stock has put in a double bottom near 18 1/2, making lows in this area in middle December and late January. It bounced off that price again today setting up the potential for a very bullish triple bottom. Resistance on the daily chart is at 19 1/4, 20 1/4, and then 22. Resistance on the weekly chart is at about 25 so it looks to me like the stock is providing a good entry point from a risk to reward perspective. I bought the stock at 19 1/16 and 19 1/8 yesterday and at 18 15/16 today and would turn bearish only if the stock trades below 18. Dan