Take a look at the "Inverted" Head & Shoulders pattern.
What is noteworthy about the inverted H&S is the volume aspect. ELCO has rallied right through the
neckline with a "huge" increase in volume. In reference to the technical H&S pattern, this is extremely
BULLISH indeed for ELCO!
Also, in reference to my previous post no#4148, I will post the advancers/decliners ratio figures....
02/24/99 advancers ratio 36.97 - decliners 6.45
02/25/99 advancers ratio 57.03 - decliners 4.40
02/26/99 advancers ratio 68.56 - decliners 2.92,on "huge" volume!
I certainly believe some smart money out there is loading up the boat on this gem, and now that "elco" broke
right through the neckline, only the sky is the limit!!!!
Heck, there are much more buyers in the stock than sellers, this is a crystal clear sign of and accumulation,
there is no doubt about that.
Also, looking at the MACD it is running extremely bullish, the MACD overrides the Stochastics Oscillator by
a mile. ELCO, has also close above a 200ema recently on heavy buying activity, this is also a very bullish sign
indeed.
This is just a thought.......
Elcom.com,Inc was formed in Dec/98 and recently merged with Elcom Systems,Inc.
Do you all think?, that there is a possibility that Elcom International could "SPIN-OFF" Elcom Systems,Inc
and/or Elcom.com,Inc. ???????
Long and holding on ELCO.
best regards
Giota |
