Hi Schelt,
>>Does any TA specialist have any insights as to what is happening? Thanks<<
Well, I wouldn't say I'm a TA specialist, however, I do use charts extensively (plus in-depth fundamental analysis) in making investing decisions.
Stock closed at $1.80 today trading range of $1.70 to $2.00. Volume (2,361,200) lighter than the 2 previous days. Stochastics declining (bearish). Gann's angles bearish. Price declined to 10 day ma, and relative strength and short-term momemtum both down. Candlestick filled with bottom handle (bearish). All in all, TA indicators are suggesting that downside momentum (direction) not yet completed and very likely will continue downward tomorrow.
I have a question for anyone here in this forum. In the annual report (dated Oct 16/97), G. Klopp indicated that the company had received an order fo 1,080 Sparrow conversion system. Does anyone know roughly how much a Sparrow sells for? (Eagle sells for $1,800 each... would Sparrow be about the same). I also noted that for the 6 months ending Dec 31/97, revenue from conversion system was only $9,057 compared to last year $28,105. For the many number of years the company has been in existence, and with the Caterpillar connections in the U.S. the revenue seems surprisingly small to me.
Comments anyone? |
