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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts
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To: HeyRainier who wrote ()6/6/1997 5:31:00 PM
From: Chi-X   of 257
 
QNTM 2-1 Split to take Affect Tuesday. There is something called the split phenomenon. It's where stocks that split usually run up higher than their pre-split price. As the stock gets shaved in half, it "looks" cheap and attempts to make somewhat of an adjustment to its old price as it runs up. The Investors Business Daily Free tape speaks of this split phenomenon as a tip on buying stocks. Some professional investors buy splitting stocks since the percentage of making a profit is so high. The odds are in favor of a runup, but be aware that it doesn't happen all of the time, just most of the time. Timing is also important.

Technical Analysis would indicate that QNTM is currently in an uptrend since the Friday that INTC pre-announced poor earnings. QNTM looks like a $40 ($20 post split) stock easily. Additionally, when SEG scared the street Monday, QNTM came out with a press release stating that they were comfortable with analyst estimates to calm any shareholder's fears.

Followup on WDC. I told you guys about the split phenomenon on WDC last week. It closed $55 1/4 pre-split and after the split ended the week at $58 1/4 (split adusted to 29 1/8).


Cheers,
Chi-X has Spoken!

CEO
Chi International
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