lcav Message Board - Msg: 5812975

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Microcap & Penny Stocks : lcav

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To: Whiskey who wrote (543)	9/22/1998 4:06:00 PM
From: Harry W. Lowe	Read Replies (1) of 942

Whiskey and All, There is clear evidence of accumulation in LCAV. With today's increased volume (188,400 as of this writing), and trading range of $1.6875 (H); $1.5625 (L), the stock is on the verge of a short term buy signal. The short term momentum indicator (MMI) has broken through neutral into a buy signal. The short term stochastic is buy. OBV and RSI are in a slight upward angle indicating on balance inflow of funds into this issue. A word of CAUTION however, intermediate and long term indicator are neutral to negative. An upward price movement to $1.75 and eventually to $2.00/share, and possibly to $2.19 and $2.25. Expect to see increased selling at these higher prices which could establish a trading range of $1.75 to $2.00. One major factor to consider at this time is that the stock market is in a state of flux which does not allow rallies to carry the averages higher than the previous low. Now whether or not you consider this a bear market or just a correction in a bull market, this type of down trending volatility is not supportive of long term upward price appreciation of individual stocks. In short, I feel that we are in a bear market in which stocks should be sold on rallies. Harry

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