Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: The Perfect Hedge who wrote (8938)	1/21/1998 1:31:00 AM
From: Ms. X	Read Replies (1) of 95453

Absolutely, I love to gander... EVI like everyone, has had a tough go of it since the sector reversed. It broke through its bullish support line at 38 (late in the game which I like to see) but seems to be rallying nicely from there. With the rally it has turned its daily and weekly momentum positive. The relative strength is negative but it didn't give a sell signal which is good. The RS does seem to be firming up which is also good. I would like to see it move to 51, breaking near term resistance and the bearish resistance line. After it confirms it can break resistance, I would be comfortable adding positions. I would also like to see a series of lower bottoms. Every time it moves down recently, it surpasses a previous low. It needs to firm up some. All in all, I see no reason to panic. The sector I believe has reversed up (I'll try and confirm tomorrow) which will give EVI good support to move on. I'm more than happy to answer any question. Best of luck.

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