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

To: John Curtis who wrote (3069)	6/2/1998 9:51:00 PM
From: Jibacoa	Read Replies (1) \| Respond to of 27311

<<<Right now it's at the low end of its range ($5 1/2 to $5 3/4) ....>> At today's close of $5.56 the price is below the 10 day average line which is around 5.80. Even if the price dips to the 25 day average line (around 5.20 at present) the stock still would be holding its near term up-trend started on May 18 when it traded between 4.88 and 5.50 with a close of 5.31 on volume of 365,300. The stock's BOP and Money Stream also have remained positive since May 18. We need a close above 6.35 in order to be able to test the February 17 high of 7.63 on volume of 1,724,700.Once we overcome that resistance the next one is last year's June high of 10.25 before we can get back to 1993-1994 low twenties. We just need some solid news from production in Ireland and or a new contract from on of the large OEMs and we should get there pretty fast. In the mean time I remain long and patiently waiting. Bernard