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

To: Pallisard who wrote (8144)	2/10/1999 4:38:00 PM
From: Pallisard	Read Replies (2) \| Respond to of 27311

Comment on technical side: As I noted last week, the chart has exhibited two converging trendlines. The first, a downtrending line from early Dec highs. The second, an uptrending line from the Sep lows. The two trendlines were defining a shrinking space between 6.5 and 7.5 which is now even tighter centering itself around 7 and ranging only a quarter in either direction. A resolution to the upside or downside should occur WITHIN the next 3 trading days before the trends actually meet. The direction of the resolution is not clear, but the move should be decisive and usually, but not necessarily, accompanied by greater volume. I'll examine the MACD, stochastics and money flow to try to determine direction. My guess is the stock's under slow accumulation. FWIW IMOH.