Lab Corp. Amer. (LH) nyse, at $ 2 1/2, exhaustion low ? Message Board

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Biotech / Medical : Lab Corp. Amer. (LH) nyse, at $ 2 1/2, exhaustion low ?

LH 253.05

-0.3%

11:22 AM EST

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To: Jim Goodman who wrote (52)	3/7/2000 3:06:00 PM
From: rakitup	Read Replies (2) of 62

Jim, I think these shares have just begun what could be a marvelous ride. I direct you to the charts. Start with the monthly chart which shows the company trading for 31 in 1992. Since mid 1996 the shares have put in a long narrow range bowl shaped bottom and are now poised to break out over their 50 month moving average, creeping up a little each day or each week depending on when you are watching. The weekly chart shows the shares came out of an inverted head and shoulders pattern at 2.20 and have been rising ever since, throwing in a cup with elevated handle pattern as well. The latter saw the shares rise from the breakout at 3.40 to today's price with a 3 month consolidation before breaking out again. The daily chart shows another cup with handle pattern with a short handle, but the breakout from this caused me to go long 1,000 shares as a start. What is told in these chart patterns is that except for the occasional day trader all the sellers are gone and overhead resistance is nil. After all, the shares tanked for seven and a half years before turning around. Institutions loaded up on these shares in the 4th quarter of 1999. Sales are currently in the 1.8 billion range if my data is correct, and the company is profitable. I cannot imagine them wanting to do the reverse split someone earlier mentioned, but I will check it out. This company has partnerships to provide testing and support to a significant number of biotech firms and outsourcing in the industry is growing fast. I see nothing but upside potential here. I hope I'm right because I just opened a position and am looking forward to adding to it as the price rises more and stabilizes. Rak up a winner

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