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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (43086)	2/17/1999 5:52:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 53903

As of today's close, MU, like many other tech stocks is sitting on 50 DMA. I guess this will be a temporary support (a.k.a. a hiatus spot before further selling picks up.) After a few shorts cover and some more dumb longs get suckered in, the selling should resume. I think the next weak support spots, as seen by voodo scientists, err. technicians, are 55 and 50. Then there is a strong support at 200 dma or (45 and 42) whichever comes first. If 42 is breached, next stop will be around 35. (30, 25 and a very strong support at 20.) Assuming it manages to get to 20, it will be about 350% overvalued! -g- cbs.marketwatch.com