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Technology Stocks : JPM Co. (JPMX, formerly JPMC)
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To: Louis Cornell who wrote (96)8/22/1997 12:09:00 AM
From: Roadkill   of 157
 
Louis, so far this cup-with-handle base appears picture-perfect. The cup is forming nicely. I'm looking for the stock to enter into a narrow trading range between 36-40 over the next few weeks, and sit there probably until the secondary is completed. After that, I expect it to hit new highs rather quickly.

This computer parts sector has been strong (witness SMOD's blowout earnings this evening), and this market has been lifting strong stocks very quickly directly after their secondaries. For instance, PWAV went from 18 to 33 a few weeks after its secondary (honesty compels me to disclose that this rise coincided with the strong May rally), and APEX recently went from 26 to 32 a week or so after its secondary, and is still rising.

I'm actually averaging up on this stock, which is something I have done with basing stocks with some success in the past. I'm hoping that it works again. Anybody have a different read on the technicals?
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