Why was anyone surprised over CPQ?
A look see at who said what and what the PnF chart said.
Analysts seem to say "Buy!" But DWA along with the PnF chart, said
"Run away..."
Fundamental Recommendations For CPQ
Date Broker Comment
4/8/99 CIBC/Oppenheimer Reiterates Buy, previewed qtr, should be a good one
4/5/99 Prudential Reiterates Strong Buy
3/30/99 Bear Stearns Reiterates Buy, broadens mid-market business offering
3/26/99 Bear Stearns Reiterates Buy
3/24/99 Paine Webber Reiterates Neutral, March 30th analyst meeting
3/18/99 Brown Brothers Reiterates Buy ST, Buy LT, business is slightly softer than seasonal
3/12/99 Morgan Stanley/ Reiterates Outperform, lowered 1Q estimates in light Dean Witter
of analyst meeting with CFO yesterday
3/2/99 Merrill Lynch Reiterates 3-1 rating, we remain concerned about
pricing, long term as average selling prices
3/1/99 Bear Stearns Reiterates Buy, trimmed estimates, channel
dislocation issue
3/1/99 Brown Brothers Reiterates buy ST, buy LT., lowered numbers slightly
3/1/99 S & P Market Scope Reiterates accumulate on stock weakness
2/26/99 First Boston Reiterates Buy, Lowered Estimates
2/4/99 Paine Webber Reiterates Buys, gaining PC market share
2/1/99 Paine Webber Reiterates Buy, raised 1999 from $1.85 to $1.95
2/1/99 S & P Market Scope Reiterates accumulate after analyst meeting
1/29/99 Paine Webber Reiterate Buy, analyst meeting today
1/28/99 Bear Stearns Reiterates Buy, maintain estimates
1/28/99 First Boston Reiterates Buy, reports in line qtr
1/28/99 Sal. Smith Barney Reiterates Buy-high risk, impressive EPS, target $190
1/27/99 Merrill Lynch Reiterates 3-1 rating, reported 4Q earnings
1/27/99 Prudential Reiterates Strong Buy
1/26/99 First Boston Reiterates Strong Buy, appears to be on track to meet
4Q estimates
1/26/99 Paine Webber Reiterates Buy, 10:00 a.m. news conference
1/26/99 Sal. Smith Barney Reiterates Buy-high risk, 4Q earnings preview, target $50
1/14/99 Prudential Reiterates Strong Buy
Dorsey, Wright & Assoc. Technical Comments for CPQ
02/05/99: Compaq Computer Corp ($45.188) broke a double
bottom at $45.00. First sell signal in a uptrend is
typically false. With the relative strength chart still
in X's and initial support at 42, can give this one some
room. Those looking to initiate positions, wait and see
if CPQ can pullback back to that 42 area and firm up.
Also watch the overall market indicators.
02/19/99: Compaq Computer Corp ($40.750) broke a double
bottom at $40.00. Second consecutive sell signal. Now the
next support is the bullish support line at 32. RS has
weakened significantly as well. No new positions here and
those long should hedge or move to the sidelines with any
strength.
03/01/99: Compaq Computer Corp ($35.313) broke a double
bottom at $39.00. CPQ pulled all the way down to the
support line, which would be violated with a move to 33.
If still long, use that as your stop.
03/11/99: Compaq Computer Corp ($31.563) broke a double
bottom at $31.00. Stock gave another sell signal
following a lower top. RS and trend remain negative.
Continue to avoid.
03/24/99: Compaq Computer Corp ($30.500) broke a double
bottom at $29.00. Yet another sell signal and follows
another lower top. RS is in O's and trend is negative.
From here would look for good support in the mid 20'S.
Compaq Computer (CPQ) Trend Chart
54 -------------------------------+-------------------------------------------
53 |
52 | *
51 | X * Top
50 -------------------------------+---X --X O * ------------------------------
49 | X O X O *
48 X X O X O *
47 X O X O X O *
46 X O X O 2 *
45 -------------------------------1 O X ----O X --------* --------------------
44 X O X O X O X *
43 X O X O X O X O *
42 X O O X O X O *
41 X O O X O *
40 -------------------------------X ------------O --O ------------------------
39 * X O Med
38 X * X O
37 X O * X O
36 X X O * C O
35 ---------------X O X O ----* --X ----------------O X ----------------------
34 X X X O X O X * X 3 X O
33 X X O X O X O * O X O B * O X O X X
32 * X O X O X O X * O X O X * O O X O X O
31 X O 7 O X 8 * O X A X * O X O X O
30 -O 5 O 6 O --* ------O X O ----X --------* ----------O --O X 4 ------------
29 O X O X * O X O X * O O
28 O X O X * O X O X X * O
27 O O * 9 O X O X * O
26 * * O X O X * O Bot
25 -* ----------------------O X O * ----------------------------O-------------
24 O X * | O
23 O * |
22 * |
21 |
20 -------------------------------| ------------------------------------------ |
