Support/Resistance Update
6.38 (50DMA) 1st Support Level
5.88 (10DMA) 2nd Support Level
7.62 (100DMA) 1st Resistance Level
10.39 (200DMA) 2nd Resistance Level
By the nature of their construction, as long as the TREND is UP, the Support Levels will continue to RISE and the Resistance Levels will continue to decline. Of course, the reverse is also true.
SargeK
P.S. Looking forward to next week, when perhaps some new light (information) will be released. I continue to believe the lack of clarity with regard to consolidated financial and operational information has hurt this Company more than any of the singular, disappointing events which have occurred since the merger. Supporting this view is the FACT that since the extent of 4th quarter charges have become KNOWN, after a brief (knee jerk) reaction, the price has trended UP.
Feb 22, 2000 Release of Estimates of 4th quarter losses:
The Company has revised its estimates to complete the Ocean Rig contract and now expects to report a net loss for its fourth quarter of between $38 million and $40 million, or $1.10 to $1.16 per share.
URL: biz.yahoo.com
Chart: (Enter 2/22/00) bigcharts.com 2%2F22%2F00&x=17&y=20
Note: Please advise if anyone has a problem retrieving the Chart Link. TIA
P.P.S. Bull, I agree with your assessment. I don't expect a RETURN to loftier levels UNTIL positive earnings are achieved (possibly this quarter), backlog is improved and last; but, more importantly, CONSOLIDATED (post merger) information is made available to investors. Good luck! |
