Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.75

-0.3%

3:59 PM EST

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To: E. Graphs who wrote (58)	4/26/1997 2:09:00 PM
From: Todd D. Wiener	of 420

NOV has declined 22% from its high, it has broken support at 11.75, it has fallen through its 100-day MA, its 25-day MA has moved below its 50-day MA, volume has decreased, it is only 8% above its 200-day MA (10-10.125). That's the bearish info. Since earnings should be released on Thursday, the stock may be nearly touching its 200-day MA at that time. If earnings are really good, the company may release the results early. If earnings are bad, the stock may break through the 200-day MA. I'm not buying any more shares, despite the conventional wisdom to buy at the 200-day MA, expecting a strong bounce. TDW

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