European Telecom -- (EUTC) Message Board

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Strategies & Market Trends : European Telecom -- (EUTC)

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To: Beermeister who wrote (58)	3/28/1999 1:20:00 PM
From: Charles Kalb	Read Replies (1) of 76

To ALL: Chart for EUTC looks quite bullish IMO. One could say the current run started on Feb. 18th when the close broke above a declining 50-day moving average (MA). Sine then, all price action including the lows has stayed above the 20-day MA, something to look for in a strongly climbing stock. Friday's action carried the close at 1.66 above the 200-day MA at 1.53. Sometimes the 200-day MA provides resistance, if only temporarily, to a stock attempting a recovery. IMO it looks like EUTC will break decisively through 200 MA. I seem to remember reading that most institutions, especially the more conservative, won't touch a stock unless it is above its 200 MA. Will this attract some institutional buying?

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