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

To: P. Ramamoorthy who wrote (9479)	3/19/1999 12:43:00 PM
From: Pallisard	Respond to of 27311

Hi Ram, in answer to your query, I consider the Bollinger Bands somewhat of a contrary indicator. When the price continues along the lower/upper band for a while without breaking it, the expectation is that it'll start migrating toward the opposite band. Vlnc's price has been running along the lower band for some time without breaking it, so I expect it to start migrating north. Similarly, when the stochastic indicator is at the bottom of a cycle, it almost always turns up rather than run along the cycle bottom. Vlnc's stochastics are just starting to turn up now. Consequently, because of these and other indicator, I see the price going north. IMO Regards, Pallisard