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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: joe who wrote (16629)	6/2/1998 5:44:00 PM
From: chenys	Respond to of 45548

If it goes up nicely tomorrow with similar volume and closes above or, even better, way above $25 it would confirm the reversal. Looking at 02/97 when it was at $38 (a local minimum) the RSI was <<20%, the trend continued till $24 in 04/97 while the RSI rose to >20%. It was a cry for reversal. We don't see that same cry here, but then look at 11/97 when it was at $28 and the RSI was at ~20%. Now at $24 the RSI is a just bit lower than 20%. Overall, if you consider these 16 months as an extension of down trend, than the RSI actually has risen while the price dropped from $38 to $24 (one dip to another) today or yesterday. There are other indicators showing little rooms on the down side. If this is a real reversal, it should not be a small one, but at $30 or $32 1/2 daytraders may want to take the money to buy a cup of coffee and call for a date. My gut feeling is that it will rush to that level before the June option expiration day (06/19), again if God willing.