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BAY seems to be having trouble breaking thru 32. Volume since its runup
to 31 has not been impressive. I am neutral on the stock.
Support/resistance at 29 / 34 3/8
Good luck.
DanG
Joe Frabosilio wrote:
>
> Hi James,
>
> You may get what you want. After the close Dell came in with better
> earnings and beat the whisper. Also plans a 2:1 split on March 6.
> Along with Lucent Tech (LU) plans a 2:1 on April fools day (4/1)and
> Microsoft spilting on Feb 23. According to CNBC which has not stopped
> talking about Dell, anything that has to do with tech. should go up.
> I back tested this stock for 3 months and 6 months, RSI, RSI top and
> bottom, Stoch, and Moving Average all say to Short between 25.44 - 29.
>
> James Charles wrote:
> >
> > Hi Guys,
> >
> > Wednesday morning I bought Bay networks at 31 7/16 on an oversold signal. I present you with the
> > attached chart because it still may be a good buy tomorrow. Note the oscillator on continued
> > strength would show a pattern similar to January 12th when there was a bullish reversal candle. By
> > waiting until 31 7/16 I made sure BAY took out Friday's open, which left Tuesday's bearish candle a
> > springboard for a possible rally. With today's reasonably strong close, the upside action may well
> > continue into tomorrow for a nice short term trade.
> >
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