Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Timoteo who wrote (5256)	9/10/1997 11:57:00 AM
From: DDS-OMS	of 9285

UNPH is overbought short-term (1 to 1 1/2 weeks), but is coming off being eversold mid-long term, so expect a dip or sideways action over next week or so followed by further rise. It is also at the top of its linear regression channel, which indicates at least a short term pullback is due. In Elliot wave analysis, it is near the end of wave 5 up. About 82-86% of the time, a stock will end wave 5 somewhere between 0.62 and 1.0 times the total 1-3 wave length. For UNPH, this works out to between $67.88 and $79.55. Therefore, it is close to the upper end of this range. Next Gann resistance is at 87, so is pretty far away to be of any use short term. In essence, could play it for a short-term pullback to about 69, but then watch for a resumption of trend upwards. Gary

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