Ray... from a novice's TA point of view, SURG looks interesting to me. Here are the highlights from my TA - as always, I would like the feedback of the veteran analysts to confirm or refute my conclusions as I don't want to mislead anyone and I would like to know what I am doing right/wrong.
SURG: Closed above the 50 day EMA yesterday after 2 consecutive days of increases in volume and price. Gains to date in price have not been significant, but come on the heels of a downtrend in the stock, marking it's first tangible recovery in a while. The MACD looks like it is going to make an attempt at crossing '0' indicating that an upward trend may be upon us. Betting on this crossover is probably reasonable as the MACD momentum seems to be favourable at this time (it looks like it is building). Finally, the stochastic on SURG appears to be good - while it is moving up (especially the fast line) it still remains in a good zone for purchase (not overbought).
On the non-techincal side, the company has been hit with bad earnings results in the past due to the fact that they have been investing in technical infrastructure, OASIS (OASiS is an information delivery and collection service for healthcare workers. Consisting of proprietary hardware and software, it is an Internet-based information network between hospitals, their staff, healthcare industry companies and others. The business model for OASiS produces revenue through hardware lease fees, service contracts, and content providers who broadcast on the network.) The company is expected to turn the profitability corner in 2000.
As well, the company has a reasonably small float of 2.473M. Not bad.
I would have to say that this one has the potential to start moving, but please note, I am not an experienced analyst and provide these comments for your consideration only. This does not consitute any sort of recommendation. Again, I would ask the more experienced technical analysts out there to provide with feedback - it's the only way I am going to learn.
Murphy |
