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Strategies & Market Trends : YEEHAW CANDIDATES

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To: Sergio H who wrote (1907)5/10/2003 8:26:10 PM
From: Jibacoa  Read Replies (1) of 23958
 
<<I see the resistance for KEYN @ 9.73, the high established in March.>>

Sergio:

It seems to me the H on March 12, the day of the up-gap on volume of 371,900 (the highest volume so far this year)was 9.40

The H on April 16,which was made on much lower volume of 23,600 was 9.65

On the most recent high volume day (May 1st) the volume was 209,700 and there was not too much change in price (O=9.38 H=9.48 L=9.36 & C=9.39) The money flow that day was a negative 6,400. To me,the nearest support seems to be at the 9.10 to 9.12 level. If it gets there, it would close the up-gap of March12. (Gap= 9.00 to 9.11)If it trades below that level I would sell it and not wai for 8.25

Besides the nearest resistance from the April 16 H at 9.65
KEYN has also resistance from the March-April 2002 double top at the 9.75 level and then the January 2002 H at 10.50 After that it seems it could test the 14 level (see the weekly chart)

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With good news and increasing earnings KEYN still could have some room to run. The March 2000 H (before the BB<g>) was 177

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One thing I like about KEYN is that it reportedly has around $8.85 in cash/share and the short volume of more that 1M is almost about 20x the average daily volume.

On the other hand,I don't like that the insiders and institutions have been selling stock lately.<g>

RAGL

Bernard
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