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Strategies & Market Trends : today's chart
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To: FIFO_kid2 who wrote (478)8/31/1997 12:57:00 PM
From: Robert Graham   of 1267
 
I usually do not try to evaluate small cap stocks since I find that they are much more volitile and can behave a little differently in relationship to their technicals compared to larger cap stocks. However, I will take a stab with this stock. I hope this proves to be useful to somebody.

The stock THM (Thermwood) has been in a type of broadening formation. Well established negative divergence of MACD and negative divergence with RSI. However, Stochs is showing a possible improving technical situation. This along with the a positive A/D and currently upsloping OBV may portend technically healthier times ahead for this stock. But this call is a bit premature. 2 1/3 may be this stock's interim high.

Good news is that I find small cap stocks like this can respond with gusto to positive news. So if there is good news coming up, this may make for a good short term play. Also, recently some of the crowd has been moving into small caps. But right now I would be careful of this stock moving back down.or at least being limited to trading within the 2 to 2 1/3 range for the short term. The next couple days should reveal more as it looks to be moving back up to test the resistance at 2 1/3.

Since you appear to invest for the longer term, my technical analysis for the comparatively shorter term may not apply to your investment profile, particularily since you may be more oriented to the fundamentals of a company.

Any comments?

Bob Graham
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