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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts
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To: ROBERT I. SCOTT who wrote (132)6/23/1997 6:42:00 PM
From: HeyRainier   of 257
 
Hi Robert, the volume certainly does look interesting, and it has continued onto today, with about 120,000 shares trading hands, vs that average 32,000 or so. The chart is looking healthy as it has broken through both its 50 and 200 day moving average, and now sits comfortably above both, which is a bullish sign.

Also, given today's advance despite the broad market weakness, this is probably trying to tell us something we don't know about. Not yet overbought, and MACD is still positive..healthy balance sheets with 0% debt, 3.84 current ratio, $1.92 cash/share, and 12.4% ROE...maybe someone just realized this is a good company that is not overvalued, and decided to tuck it into their portfolios.

Regards,

Rainier
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