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Strategies & Market Trends : The Rational Analyst

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To: Scott H. Davis who wrote (1260)6/30/1998 9:55:00 AM
From: HeyRainier  Read Replies (2) of 1720
 
[ PERLF ]

Scott, I think it's going to be a very good quarter for PERLF on a price performance basis; the size at the ask is very strong currently, and now that it is sitting at least at $2.00, it is breaking out of a critical Speed/Resistance Line.

If we close above $2.00, there's a good chance we'll hit $2.25; if that happens, we will have blue sky, and we will break out of the one year base at these levels; this will give us a fairly quick opportunity to hit at least $2.60.

It's got some work above this point...after which the next significant resistance level is a whole dollar above that...at $3.60. On the way there, expect the most significant resistance to fall halfway between $2.60 and $3.60, or at $3.10.

Regards,

Rainier
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