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Technology Stocks : GTIS - Will it be a Phoenix or not ? -- Ignore unavailable to you. Want to Upgrade?

To: Chris McConnel who wrote (1832)	3/24/1998 10:00:00 PM
From: V.	Read Replies (1) \| Respond to of 2319

Hi Chris and All, techstocks.com Well, I checked the T/A tonight as promised, and there's really nothing too remarkable to report. The volume is quite low, and its inability to break above 8 seemed to bring out a few sellers, unwilling to risk another failed rally. Short term resistance remains at 7 7/8 to 8 1/8, followed by the next line of resistance at 8 3/4 - 8 7/8. We really need to see some momentum come into it here, a volume >300K would be nice, and probably sufficient to boost it a bit higher, however for now, it is just building up a nice base in that 7 - 8 range which is good. The weak close today is not of major concern to me, given the light volume. I would be concerned if the stock closed below 6 7/8 - 7 1/8 at any time unless it were to be a result of an overall market sell off. If that were to happen, the next line of support to the downside would be the 5 7/8 - 6 level. I think that any sort of bad news could easily drop it to the 6ish level, so that is the immediate downside, IMO. Overall, it has been on an upward trend since the end of January, but the concerns regarding the high inventories and accounting methods have most likely kept new money from entering the stock, as evidenced by the lack of interest at all times except for the gap up in mid February. Just for kicks, has anyone else correlated that sudden rise with other events? <gggg> I really think there needs to be some positive PRs or good numbers to propel this one any higher, otherwise, it will continue to languish under 10 for some time. I would hope that it will respect support again tomorrow, and I'd expect a little more activity in the stock in the next session. However, we would need a volume of at least 200 - 250K to move beyond the 8ish level, otherwise, it will probably not be able to rally sufficiently above 8 1/4. Incidentally, Zacks is currently rating GTIS a 2.3 (between a hold and a moderate buy, with 1 analyst giving it a strong buy, 2 giving it a moderate buy, and 3 giving it a hold recommendation.) FWIW. All the above, IMO only. :) xoxo, V.