[ EQNX]
The price action for EQNX is very encouraging...
The issue has rebounded and has gained strength. Today's close marks the breakout of a short term downtrend for EQNX. For TA followers, you can trace the downward sloping trendline, which should have the dates 12/3/97 to 12/4/97 and 1/2/98 as the connecting points for the trendline resistance. Other indicators have simultaneously turned up. The number of analysts following this are growing in size, with generally very positive views about the company.
Earnings are due out soon, so the true extent of the Asian crisis will make itself evident in the company's numbers, which, I was told, were expected to be minimal to non-existent.
Since I wrote my recommendation for EQNX about three weeks ago, the stock has appreciated 14%, while the Dow has fallen 1.5%, for a differential of 15.5%. Not a bad feat considering that The Wall Street Journal just wrote about the "Stealth Bear Market" in small cap issues.
All-Star Analysts, here I come.
Regards,
Rainier |
