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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (7717)	5/18/1999 5:45:00 AM
From: John Romeo	Read Replies (9) \| Respond to of 30916

Speaking of Banners or Pennants has anyone looked at the IDT chart recently like today.There are some serious issues that must be worked out technically or we are in big trouble. In March the stock showed a classic Pennant formation within a range of 19-15 and when these Pennants come to a point and are finished the stock, any stock typically makes a dramatic move in either direction. In the case of March's Pennant it worked out exactly as ordered and we saw the stock shoot up to around $25.A classic resolution. Now in late April it started again this is a volatile stock and it showed it as it ranged from 35-25 roughly, and now near 28 the Pennant has again come to a point, an end is in the making, we just don't know how it will resolve, but resolve it will and personally I hope it does the same as in March and resolves with an upward breakout. A few things to consider the stock is closer to its 40 day MVA than the March Pennant.MACD the long term trend is mildly positive but in a strong direction down which if it continues will change this long term indicator to negative within days.Short term stochastics still have upward room available and are moving up.So short term it is not overbought. Today's volume is of concern, it was lousy. On balance volume was negative to barely neutral and this hasn't happend since May 1. All said,the key looks like we are in for a resolution of the Pennant what direction is a guess. Good news isn't and could cause a technical breakout to the upside and we could see it move 7-10 points in a matter of days. I hope the news comes soon, there is not much time left.IMHO