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Strategies & Market Trends : CANSLIM - COAST TO COAST
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To: Muizz M. Kheraj who wrote (2762)12/21/1997 2:33:00 PM
From: Bruce A. Brotnov  Read Replies (1) of 6445
 
Muizz, CBR looks to probably have the requisite factors for CANSLIM if you are optimistic on the M being positive, but it falls a little short of a normal "cup and handle". It had a better cup and handle formation breakout on 18 Sep when it gapped up from 40 to 41 1/8 and went on up several points from there.
The impressive part of CBR is how well it held up last week, although it is fairly low volume and maybe not widely enough held to get in on the "sell off". It has resistance at fairly recent high of 49 5/8 and if it breaks through that on above average volume then you have a case for a breakout on what looks more like a W formation with the breakout off the handle of the W. However, it needs to continue the pattern of increased volume and price increase. Last earnings were .28 and next estimate is .27, but Zacks rates overall a 2 in "computer services" sector and shows it 14 of 95 companies in the group. I don't know the 5 year growth, but I think it will have some difficulty going much above 50 if they don't exceed the est of .27 by several cents (due 2/11 according to Zacks, but within 30 days according to IBD). I like the A accum/dist as well as A rating for sector in IBD along with 99/89. Next year estimate is 1.55. Good luck.

Bruce
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