HIPC - up 20% (Record 4th quarter projected) Message Board

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Microcap & Penny Stocks : HIPC - up 20% (Record 4th quarter projected)

HIPC 1.120

+2.8%

Jun 5 5:00 PM EST

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To: mannyj who wrote (126)	11/1/1998 11:28:00 AM
From: Bwe	Read Replies (1) of 213

I was reading the Investing Forums HIPC board over on AOL as I do on occasion and the poster asked for comments about the recent action in HIPC's stock. I repost my message here for those interested in what the stock's current technical outlook is according to my read of the point & Figure chart. HIPC has been trading below it's Bearish Resistance Line since 12/96. This most important downtrend line is at $2 1/2 and will limit any upside progress should the stock turn around and give a buy signal. HIPC hasn't given a buy signal on it's p&f chart since 8/96 at $4 1/4. Since then, the stock has given 5 straight sell signals. The stock has been making lower bottoms and lower tops for a very long time now and the chart is saying quite plainly that this is a stock to be avoided at all costs. The next buy signal would occur at $2 3/4 but I wouldn't hold my breath waiting for that to happen. With so many wonderful companies and stocks out there, I can't think of a good reason to put any money into HIPC at the present time. Supply has clearly been in charge of this stock for the better part of 4 years now. I'm sorry to sound so bearish, but the chart just doesn't look all that encouraging. Good luck to all. Bruce

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