Happy New Year to you, Al. ERTS makes some quality games for the N-64, and I've recently purchased two of them for my oldest son, NBA Live 99, and NHL 99 that look and play great.
It looks like the stock might be reversing up on it's RS chart into an X column this coming week after a very strong day on Thursday. ERTS has been on a RS sell signal since 4/97, however, the stock had a long run in X's on it's RS chart and a move into X's would be bullish.
The stock just shrugged off a High pole at $45 and that is very bullish. Two previous HP's took the starch right out of the stock, in August at $50, and again in September at $44. ERTS dropped as low as $34 subsequent to the HP's.
The stock is approaching a Bullish Resistance Line at $59 and that looks to me to be the high end of this current upmove. Also, July and August saw the stock top out three different times between $54 - $56. $54 was the po and the stock has reached and surpassed it. I think the risk/reward for entry at current levels is unfavorable. I would prefer entry closer to the breakout price of $50, and closer to the BSL. If the stock has another HP, which could be caused by a game delay as you forewarned, a test of the BSL and a better buying opportunity might present itself.
JMHO as you know, Big Al.
Let me know what you decide to do.
Bruce |
