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Microcap & Penny Stocks : Ames Department Stores (AMES)
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To: Arthur Tang who wrote (823)12/1/1997 2:51:00 PM
From: Arthur Tang  Read Replies (1) of 1911
 
Here comes the technical analysis. Trend lines show a breakout today above resistance at $18. Volume more than doubled, to anticipate possible parabolic rise in the next few days. The retrace of earlier this year but at a higher level, indicates the fundamental strength of AMES' earnings potential. Discount of P/E ratio may be the driving force of further nice moves. Window dressing will move AMES to catch up with the industry, which Zacks ranked AMES first out of 27.

Anyway, the higher the price, the more hard work for AMES to improve. $66 here we come.
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