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Elron Electronic Industries Ltd. Message Board

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  • ChiTrader ChiTrader Feb 14, 2000 10:46 AM Flag

    This stock is taking off so

    ELRNF broke above the old high (2/93) for good(we
    hope) in late Decmenber. That means there is no
    overhead resistance in the stock. At all. No desperate
    sellers trying to get out at breakeven after a long wait.
    Path of least resistance is up. How far? I don't have
    a clue. Some scratch paper TA suggests that the
    high 40s might give some resistance, but probably not
    a major top, unless something fundamental happens
    to the company. I, like some others here, suggest
    comparisons with CMGI are the most logical(?) way to value
    this stock, if CMGI can be considered logically valued
    by the Street. If that comparison is valid then a
    doubling from here is not out of the question within the
    next year or so. But this is merely one insignificant
    shareholder's opinion. Also, don't rule out a sharp retest of
    the old highs as support. Once you get the
    daytraders' attention, anything can happen.
    Good luck


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