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Strategies & Market Trends : The Rational Analyst

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To: Scott H. Davis who wrote (399)	3/4/1998 11:17:00 PM
From: HeyRainier	Read Replies (1) of 1720

[ Perle Systems ] Wow. We just had a breakout from the long term downtrend (begun in May of 1996) with today's close at $1.875. The price now sits above the 200 day moving average. The price action has to break past the base limit at approximately $2.00 before any overhead resistance can be cleared. Afterwards, the trading supply/demand characteristics appear to dictate that the stock can move unhindered to about $2 5/8. Cautiously optimistic. Rainier

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