Bombay (BBA): Time for a run up? Message Board

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Non-Tech : Bombay (BBA): Time for a run up?

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To: Arnie Doolittle who wrote (4)	6/22/1997 9:27:00 AM
From: Harry W. Lowe	of 202

Arnie, Daily 'BBA' chart activity: 'BBA' is still in distribution pattern, with the current Fibonnacci retracement only 0.381. This is a weak recovery and would seem to forecast further downside activity, possibly to $4.75/sh. Stochastics are still under a sell condition. OBV indicates a topping pattern. Short and intermediate momentum indicators are still in a sell pattern. Current price support is $5.125 and upside resistance is $6.125. Weekly 'BBA' chart activity: Weekly momentum indicators are in a sell pattern. I would like to see a buy signal in the daily (chart) momentum indicators, and additional evidence of accumulation in this issue before I would commit any more funds. Recent price performance of 'BBA' has been very impressive, and it would seem that this issue will move to higher prices in time, but (IMO) more evidence is needed to indicate an end of the current "pullback". Regards, Harry

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