SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : WGNR... I got a tecnical buy here at $9
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Buy and Hold who wrote (15)6/24/1996 6:59:00 PM
From: Jim Roof   of 38
 
Thanks for that information. Wegener is located practically in my back yard here in Duluth, GA. I may give them a call and see what gives. I have heard that fiscal '97 will be their breakout year as revenues and growth go.

As for the chart. WGNR broke out of consolidation but has returned twice to the mid 9's where it broke from. I am not happy about its return there but I don't think it is unusual for a test of this area to occur. I think the consolidation would be classified as a Head and Shoulders consolidation - a rather rare formation - it looks like a bottom head and shoulders except it is NOT at the bottom but rather occurs where an advance has halted temporarily. H&S patterns are commonly known to have breakouts return to the pattern boundary - sometimes twice as WGNR has. Look for support at 9 1/2 and resistance at 14. I'm in a 10 3/8 and as a short term trader I may be tempted to sell at 14 - don't know for sure.

Jim
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News