SNRS- Sunrise Technologies Message Board

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Biotech / Medical : SNRS- Sunrise Technologies

SNRS 0.000001000

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Jun 6 11:01 AM EST

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To: CUBBY who wrote (968)	5/18/1998 8:47:00 PM
From: HeyRainier	Read Replies (2) of 4140

I'm getting a bit concerned about the new technical developments on SNRS's chart. A momentum-based indicator I recently built has recently turned bearish as of 5/14/98, and to add to that, the stock price closed below the 21 day moving average for two consecutive days. This can often lead to the stock price leading lower to the bottom range of the Bollinger Bands, which in this case is currently at $7.30. Note that this indicator first became bullish on SNRS at $4.00 on 2/3/98. As it is a leading indicator, a continued show of weakness for this indicator could be a sign that other trend following indicators may soon follow. Often when I see this develop, the stock price either bases, or heads down; it is less often the case that the price moves back up. Support continues to exist at the $7.70 range, so I will consider the downside to be capped to this level in the short term, though my confidence in this level has slightly waned. Resistance exists at $9.00, and any move beyond this will constitute a breakout from the short term downtrend SNRS is currently under. Regards, Rainier

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