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Technology Stocks : Egghead Computer (EGGS)
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To: Jan Robert Wolansky who wrote (6130)1/26/1999 7:33:00 AM
From: Rob L.  Read Replies (2) of 8307
 
Jan, I agree with your analysis. EGGS looks like it is nearing an oversold position. If you are going to buy this stock now is the time to do it, technically speaking. Stochastics nearing the bottom, stock trading at the bottom of its bollinger bands, and volume has been light on this downswing indicating weak hands getting shaken out. 20 has held very well on a closing basis.

However, a poor earnings report trumps any technical analysis and a failure to produce will send this stock down on higher volume. On the other hand if the earnings are good, the stage is set for a strong run, probably to the 25-30 range and you will see a very large surge in volume.

I'm holding in here even though my cost is a bit higher. If EGGS does not come through, the whole internet e-tailing sector could get whacked. We have to watch out for pressure on margins and hope for new marketing arrangements which could boost revenue.
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