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Non-Tech : Bombay (BBA): Time for a run up?
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To: Arnie Doolittle who wrote ()6/11/1997 12:32:00 PM
From: Harry W. Lowe   of 202
 
Arnie,

I don't know any thing about the fundamentals of 'BBA', but I will give you my technical analysis on the issue:

Bombay Co., Inc. $5.50/sh @ 11:25 AM EDT, 6/11/97.

1. Short term sell on 6/10/97; Intermediate & Long term hold.

2. On Balance Volume (OBV) positive trend indicating increased volume on the buy side.

3. Stochastics & RSI overbought.

4. Elliott Wave Analysis - Wave 1 low (beginning of wave) $3.75 on 5/7; Wave 1 high $4.50 on 5/15; Wave 2 $4.125 on 5/20; Wave 3 $4.875 on 5/20; Wave 4 $4.50 on 6/5; Wave 5 $5.375 on 6/10.

Summary comment on the Elliott Wave Analysis: Both the price and number of days forchast were within the forcast calculations within acceptable limits, with the exception that the inherent (intrinsic) ratio is 0.50 as compared to the Fibonacci ratio of 0.618. This would indicate greater price swings (greater price volitility) than would have been the case if the inherent ratio were equal to the Fibonaci ratio 0.618.

5. Price support $4.94 (approx. $4 15/16). Upside projection has not been made as of this posting, but will be determined on later posts.

Summary, I would expect a short term price reversal for profit taking in this issue, and were it goes from there is yet to be determined.

Again I would caution you as to whether or not to take a position in this stock. The ultimate decision is up to you.

I am not a licenced advisor or stock broker. The foregoing analysis is the opinion of the writer with no guarantees given or implied. The numbers and factors used for this analysis, are assumed to be
correct, and not the responsibilty of the writer.

Will continue to monitor this thread and advise all that are interested and express their interest in this issue.

Regards,

Harry W. Lowe
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