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Non-Tech : CHRS - CHARMING SHOPPES (FASHION BUG STORES)
CHRS 1.600-4.5%Nov 3 3:59 PM EST
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To: Instock who wrote (66)5/10/1997 10:35:00 PM
From: Doug R   of 128
 
Instock,

I'm going to be conservative here for the short term. The short and
intermediate term RSI is positive but the short stochastics is not.

The intermediate term stochastics is very likely setting up a knee, this
is very good if it occurs. The short term is pulling back hard but is
nearly bottomed out. The intermediate %K is leaning over a bit but has
enough room to drop to the %D just as the short term turns back up. The
short term usually leads the long term around. If the short term turns
back up when I suspect it will, the intermediate %K will form a knee so
I'll keep my eye on it to see if all of this will or won't lead to a knee.

The current uptrend support is very strong since it has been tested quite
a few times. I don't think it will break down easily, especially not
since BW has quoted a Stephens (I have to assume it's R. Stephens since I've
seen them referred to both ways) analyst projecting a target of 15.

The MA/MLR is very strong here. Since the 89 day is very positive, I
am still seeing a strong move ahead. The 21 day is just now crossing
up again. The 34 day is still moving up after the recent MLR retest of
the MA. (I use the MA of highs and the MLR of closes....just in case
you're taking notes).

I'll spare you the rest of the details.

Your three day price calls may be a bit low.

30 days to break through 7. (give or take a day or penny).

6 months.......?

IMBJ
Doug R
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