VALENCE TECHNOLOGY
(VLNC-Nasdaq):
Technical Viewpoint: From a low
of $10.31 on Dec 6, 1999 prices
rallied, reaching a
high of $22 3/4
on Dec 21, 1999. A
decline saw prices pull back, reaching a
low of
$16.00 on Jan 5, 2000.
Another rally saw prices penetrate
resistance, closing 1/24/00
at $24.34. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jan 24, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $20 1/2. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jan 24, 2000. A P&F upside
reversal takes place at $23.00. Summary: Technical indicators have turned bullish. BUY! VALENCE TECHNOLOGY
(VLNC-Nasdaq) @ $24 7/8 Stop: Use a protective stop of $22 7/8.
VALENCE TECHNOLOGY is currently trading @ $24.34 plus $3.15 on Jan 24, 2000. Price Objective:
$31.00. Risk/Reward: $2.00 VS. $6 1/8. Today's Risk Reward Ratio: 3:1
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