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Technology Stocks : C-Cube
CUBE 37.06+2.0%Jan 8 3:59 PM EST
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To: Tim Michaels who wrote ()6/4/1996 1:14:00 AM
From: Andy Chen   of 50808
 
Technical Analysis on Cube. --

downward trend seem to have stopped. cube's oversold pattern have slowed. today the market tested its depth around the $48 level and rebounded back to close at bid$49.50 on very little daily volume. most of the ticks are up (buy orders). up/down tick 3/1 ratio. roughly 370,000 shares traded.

this is what japanese candel stick chartists call a hammer. if the price at tomorrow's opening is higher and the stock goes up. this confirms a reversal trend signal.

cube has been in a horizontal basing pattern for a month, after the major price decline. this hammer is significant in trend analysis.

however, broader market seem to be under heavy selling pressure as fears of interest-rate increase promotes profit-taking. hammer maybe a false signal.

cover your calls. and wait for a run-up this week.

p.s. update on Sony portable VideoCD announcement.
--in addition to the current flat-screen LCD for the new VCD player. sony will launch its head-mounted LCD monitor (YES!! virtual reality is finally applicable!!!) if demand of its VCD players remain strong.

sony estimated japanese VCD market will reach 4 million units this year. (according to the same report this is 4 times last year's market).

Imagine how big the number is for the chinese market.

--enough work for tonite.
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