To All,
Where is the enthusiasm that was generated by the affects of the Zacks Hot Stock report (April 97)? This thread has gone dead. What is it going to take to get investor interest back into LCAV?
The recent earnings report on May 14, 1997 wasn't very good, but considering the fact that the company is in a growth phase, losses can be expected. The reason for the volatile nature of the stock is due in part to the thin float (company controls over 90% of the issued stock). With only 0.03% Institutional holding, price appreciation is expected to be slow.
See the following report from Barron's:
<http://www.barrons.com/bie/articles/frames/cover_story_frame.html>
Note that you must be registerd (free) to look at the report.
Current price support is $4.25/sh, Upside resistance is $5.00/sh.
Short, intermediate, and long term Momentum (MM) indicators are in negative trends. OBV indicator is negative.
There isn't any reason for short term traders to take long side a position in this stock at the present time.
Due to the over bought condition of the stock market, and in particular, the lack of interest in small cap stocks and Eximer Eye Care stocks, long term positions in LCAV should be avoided until a test of the price low of $4.25 is made. Any drop below that price should carry the stock to $3.50/sh.
I will be out of town from May 22 to June 3 so will not be watching the market. Should be back on line June 4. Happy investing.
Note I am not a licenced advisor or stock broker Any predictions made are strictly the opinions of the writer. No guarantees of profit is made or implied. Any actions or positions taken by persons reading this post is the responsibilty of that individual.
Regards,
Harry |
