IDTI - an IC Play on Growth Markets Message Board

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Technology Stocks : IDTI - an IC Play on Growth Markets

IDTI 48.99

0.0%

Mar 29 5:00 PM EST

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To: AJBurl who wrote (6169)	1/29/1998 11:58:00 PM
From: Rob S.	Read Replies (2) of 11555

For several periods IDT hit up against resistance around 14; Dec 27 '96 - Jan 17, 97; 5/5/97-6/9/97; 7/16/97-10/14/97. I think there is likely to be pent-up selling when we reach that level again. This quarter's sales and earnings will be fairly flat despite the good news about products in the pipe. And the analysts 12 month price targets of 15-18 will probably be discounted for the time value. The 12-14 level can be penetrated once the overhead resistance is absorbed, but I think it is likely that selling will occur - there is a great story shaping up but it will be a few quarters for the results to perculate to the bottom line. The TA shows some upside potential is still left which may move the stock up toward the 14 level. However, the chart is pegging the upper band of several indicators and the momentum is unlikely to be maintained for very long. I think we started to see resistance today and may see a slight pull-back tommorrow or early next week. I don't think we will get much downside as institutions have obviously been accumulating the stock. We'll see.

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