J Walter, I only buy stocks when they look technically interesting, and won't get involved in the fundamental warfare on any thread....
Yes, Dr. this stock interests me....I am not a buyer yet, but watching..If you take a look at the chart you will observe that this stock has made a double bottom...On January 25,1996, we had a price of 1.00 and on 12/31/96 a price of 1.62 at the close....A double bottom is usually a bullish indicator....For those who buy low and sell high, it looks like you can't get hurt badly on this one if you enter now, provided PRLN doesn't go bankrupt or issue more shares....I have the downward trendline pegged at 2.00....The pattern we have here is what we refer to as a descending triangle formation....The stock needs to assert itself by closing above 2.00 on decent volume before my radar lights start flashing....Volume on this stock has not been very exciting...Last week we had an average of 42,620 shares traded a day...Two weeks ago 34,360, and three weeks ago 86,880.....We have some resistance at the 2.18-2.37 area to plow through, and volume over 100,000 shares traded before I might consider being a buyer....This chart is a difficult one to study, but I do see a Head and Shoulders Bottom formation...We are finishing up with the right shoulder presently...I have the neckline pegged at 2.50....If we can shoot through the 2.50-2.80 area, I see a run at 4.00....$4.00 has been a major resistance point in the past.....One of these days I will calculate the number of shares traded a day to see how much firepower we will need to cut through that level....For now I remain on the sidelines....The best TA indicator on this stock is a Rate indicator called the EPS And Time redundancy....Well, its back to the couch, and I hope that you stay with Silicon...There are indeed some very intelligent and shrewd investors on these threads....Take care, Mark |
