Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: HeyRainier who wrote (39)	5/29/1997 8:47:00 PM
From: HeyRainier	of 257

Eyes on Chicago Miniature Lamp(CHML): Take a look at this former momentum play. Once on the front page of WSJ's Money & Investing, the stock took a beating for BEATING estimates by a penny. The stock has lingered, but very lately volume has picked up, and today's trading is 3 times greater than its normal volume. It also closed up today very strongly. Now upon closer inspection, CHML actually broke out of a wedge it previously formed from late January to early April. The stock jumped neatly out of the wedge and above its 50 day average. However, the broad market weakness took the strength out of its movement, and it has inched down since. The chart pattern now resembles that of MTZ's, right before it took off. You can almost paste on the April-May activity to it. The fundamentals are strong. Earnings projected to grow 32.5%, p/e of 26, current ratio at 3, debt at 21%, cash at $5.60, and ROE at 22%. Management has expressed its comfort with this year's estimates as well. TA and FA look strong. I believe this stock has found much of its lost strength, and I'm looking to see it move strongly in the near term. Regards, Rainier

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