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

To: FMK who wrote (6509)	12/30/1998 11:46:00 PM
From: Jibacoa	Read Replies (2) \| Respond to of 27311

The stock is still on a near term downtrend. It gave a near term sell signal on December 7 when the price dropped below the 10 day average. (IT had a daily high of 9.97 and closed at 8.56 down from the 9.75 close of Dec.4 ) After dropping to 7.38 on Dec.8, the attempted rally on Dec.14 with a high of 8.88 and close of 8.50 just brought the price back up to the 10 day average line. The price has remained below the 10 day average. With today's "Murphy buy" the price got just back to the 10 day average again. The price came below the 25 day average on Dec16 which was the same day the 25 day average came below the 10 day average. The price has to close above the 7.25 to really get over the 10 day average. To resume the near term uptrend the 10 day average has to cross above the 25 day average as if did on October 22 at the 4.63 level. The Money Stream and BOP have remained positive since Mid-September. The above is IMHO. Happy Holiday and good luck to all