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

To: Zeev Hed who wrote (8971)	3/6/1999 4:02:00 PM
From: Pallisard	Read Replies (1) \| Respond to of 27311

Zeev, appreciate your input. The chart overall is basically neutral, but it has a few positive aspects that make me favor a bullish bias. The RSI, which you pointedly mentioned, in the short term (under 10) is somewhat positive by divergence. As you increase the parameter it becomes almost neutral. Stochastics are TURNING UP from what appears to the bottom of a well defined cycle. The price is sitting on a 6 month uptrend line which held very well on Fri. Over the last several trading days the volume has declined dramatically while the price has drifted slowly down. It would seem that parties interested in selling have consistently moved to the sidelines. In fact Friday near the close saw a spark of buying interest. Let's face it. Charts are only a history of price action and volume, they have extrapolative limits, while fundamentals and the PROSPECTS of fundamentals have the last word. But in the absence of "fundamental noise" charts can offer clues to price direction even more accurately. Right now we're charting hopes and dreams and market maker schemes; rumors, some facts and historical tracks. I'm sure you know all of this, but occasionaly I like to revive basics. My general feeling is that the stock is indecisive but wants to be nudged to the upside. Now isn't that objective? (-: Pallisard