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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Gary Schneekloth who wrote (13969)4/12/1998 10:34:00 PM
From: Larry S.  Read Replies (3) of 53068
 
Gary, interesting chart on MRVC. It looks to me that it might trade a little cheaper, close to 23, and resistance appears to be at 25-26. However a year chart shows a different story. After peaking at 39 in September, the stock came down hard to almost 20 in December and January. Since then the stock has had a series of higher lows and the jump to 29 in February is a higher high. THe 50 DMA is right around 25.50, which again is resistance. It is interesting that the stock retreated from 34 to 25.50 or so in August of last year, before resuming its climb. 25.50- 26 is the magic number for this stock it seems. The stochastics are low right now, indicating close to a bottom, but, again, there might be some more downside. Haven't looked at FA on this stock, but i like the whole communications sector, so would probably be inclined to buy it here or near here if i were to invest in the stock. thank you for bringing it to our attention and posting to the thread. larrry

PS - thanks Dan for the TAs.
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