So how many people looked at FOCUS Enhancements, Inc. (FCSE)?
I sure did after the Zenith annoucement. I'm not going to go into details but I feel they have potential. Their March earnings report should be out soon. Trading at approx. $3.75.
I looked at Zenith using one of my charting programs, Power Investors. I used just about every indicator to see how the stock was trading. I will say that if you zoom in very close, and you forget about the $6.00 trading range, the stock looks VERY GOOD! It's LOOKS like it's forming a nice base at $17 and SHOULD begin a new advance soon.
Glad to see the market rebound, it would be tough to advance if the DOW were to sell off to the 5000-5100 range.
The Williams Accumulation/Distribution measurement, measures market pressure (overbought/oversold). The indicator showed a -2.95 reading meaning the stock is oversold. On Tuesday the reading was -2.33, but every other day the stock has been in positive teritory.
The Williams %R measurement is similiar to the previous indicator, its reading is 50, which is the medium range (0 to 100).
To summarize, it APPEARS that Zenith is trading right were it should be based on the large surge and sell off. Based on this and the signs from my other charting software, I feel comfortable with a $17 base.
NOTE: THESE ARE MY PERSONAL OBSERVATIONS AND I VERY WELL COULD BE WRONG! NEVER TRADE BASED ON WHAT I SAY OR PREDICT! (I don't think anyone will).
P.S. If you haven't read Bill Gates book "The Road Ahead", I recommend it. There are some really good ideas about the direction and problems for the information highway.
Aloha |
