lcav Message Board - Msg: 5551013

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Microcap & Penny Stocks : lcav

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To: Harry W. Lowe who wrote (512)	8/20/1998 5:45:00 PM
From: Harry W. Lowe	Read Replies (3) of 942

Yosid and All, As noted in my previous post #512, the following is my technical analysis of LCAV. The head and shoulders as follows: The reverse head and shoulders pattern as noted in LCAV post #474 of this thread has been nullified by recent downside price action of this issue. Therefore, any previous prediction of upside price moves to $4.25 and higher based on this projected head and shoulders are canceled. For the following analysis refer to a daily bar chart of LCAV of at least nine months duration. Note that there are two patterns with negative price consequences. The two patterns are a head and shoulders and an indecision pennant both with a confirmed downside price breakout. The head and shoulders with left shoulder starting at 3/11/98, head at $4.28125 on 4/21/98, and right shoulder terminating on 8/4/98 at a price of $3.21875. The neckline is a 30 degree diagonal line from the low of 3/11/98 through the right shoulder penetration of $3.21875 on 8/4/98. Subtracting the distance from the head to the neck line results in a downside price projection of $2.40625 ($4.28125 - $1.875 = $2.40625). Subtracting this price projection from the 8/4/98 breakdown price of $3.21875 yields a downside price objective of $0.8125 ($3.21875 - $2.40625 = $ 0.8125). The Indecision Pennant breakdown is as follows: On 4/21/98 from the top of the pennant to the bottom a downside projection price of $2.40625 is calculated ($4.28125 - $1.875 = $2.40625). Subtracting this downside price projection from the apex of the pennant on 7/9/98 of $3.3125 yields a downside price objective of $0.90625 ($3.3125 - $2.40625 = $0.90625). In both patterns price projections of $0.8125 and $0.90625 were obtained. Whether or not these downside prices are achieved, depends on the willingness of LCA Visions to support the price levels at prices above these price levels. The remarkable factors to be considered at this stage of downside price trend is that all technical indicators are in a sell configuration, and that the two aforementioned highly accurate chart patterns are predicting further price erosion in LCAV. So precaution should exercised in further purchases of this issue until a confirmed positive price trend reversal can be verified. Out of favor stocks are out of favor for a reason. Don't be premature in buying this stock until that reason has been resolved. Harry

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