Bombay (BBA): Time for a run up? Message Board

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Non-Tech : Bombay (BBA): Time for a run up?

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To: needawin who wrote (102)	4/2/1998 10:22:00 PM
From: Ed Perry	Read Replies (2) of 202

The short term TA looks good for BBA for a near term rally. First, price is resting on some major support / resistance level at 4 7/8. This level is predominant for the past 5 months and even again much earlier in time. Second, although in a flat zone, daily candles are giving good evidence of bottom pattern (doji & hammer). Third, my Elliott Wave software views this as the beginning of a wave III in an intermediate cycle. By the count, beginning at 3+ in 4/97 to 9 in 11/97 (wave I) then 4 in 1/98 wave II then the present as early in wave III. So in summary, we could see a strong rally in the current cycle.

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