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Strategies & Market Trends : The Rational Analyst

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To: Duke who wrote (1235)6/26/1998 2:56:00 AM
From: HeyRainier  Read Replies (2) of 1720
 
[ APCO ]

Duke, I would look to take advantage of higher prices as good opportunities to sell. On a growth basis, and according to the projected estimates I see before me, APCO appears to be overvalued by about 14%, and with today's Shooting Star, it looks like some may share the sentiment that a good deal should not be passed up.

Shooting Star:

scifi.co.uk

Thursday's action was almost a textbook case. There was a failure to rally past an imperceptible Speed/Resistance line; intermediate term trends are bearish, and further resistance exists at the existing descending trend line, which currently coincides with the position of the 89 dma.

Odds seem to favor the short over the long position at this point in time.

Regards,

Rainier
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