Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.67

+0.8%

Dec 19 9:30 AM EST

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To: Double Dipper who wrote (236)	2/11/1998 4:57:00 PM
From: Todd D. Wiener	of 420

The big volume and small (by comparison) price change may reflect institutional block-crossing. This is when two (or more) institutions trade directly with each other. That's why the price doesn't change much (if at all), despite the large volume reported. The run-up following the block trade is interesting. NCES is now at a strong resistance point, defined by its downtrend. If it can close above ~$6.50 on strong volume, it might indicate a long-term reversal. I suspect that NOV will recover if this happens to NCES. Todd

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