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Technology Stocks : PRI Automation up 30%
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To: Thomas DeGagne who wrote (8)4/22/1996 1:46:00 AM
From: Asymmetric   of 193
 
If you look at the chart you can see the beginning of a W formation.
To me your buying strategy will have to take into account 2 factors:
1) the chart/technical formation appears to be turning positive.
2) the overall tone for the tech sector appears to be improving. Dark clouds have lifted
somewhat with the earnings reports by companies like Intel, Motorola, etc. On Friday
prices rose for similar companies to PRI: Brooks Auto, Asyst, Scientific Tool, etc. so
buying demand is sector wide, showing renewed institutional interest.
For myself, I have a price target of about 30-35 by year-end which I feel they should
easily make and was the price they were at early January. This would make for a 50%
gain at where I bought in at 21 1/2.
There is still a lot of skepticism and caution out there, so what I foresee is more of a
steady type price appreciation than anything of a jerky nature.

Good luck whatever you decide.
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