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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (27331)	7/19/2000 4:34:51 AM
From: Johnny Canuck	Respond to of 68669

Anyone following ADPT: bull-market.com 1. ADAPTEC is a supplier of bandwidth management solutions that enhance system performance by increasing the data transfer rates between personal computers, servers, peripherals and networks. For the fiscal year ended 3/31/00, revenues rose 17% to $810 million. Net income totaled $171 million vs. a loss of $13 million. <O:P</O:P Adaptec is scheduled to report earnings on Thursday, July 20th. According to Earnings Whispers.com the earnings whisper number is $0.46 while the consensus estimate is $0.38. Five analysts follow the stock and have given it a "Buy" rating with a one-year target of $66. On Tuesday, Adaptec rose 21% on volume of 6.2 million shares, which is more than 3 times the daily average. The company said late Tuesday, that Microsoft will use the company's compact disc recording technology in its new Windows media player. The recorded CD will then be playable on all standard CD players. Adaptec touched upon its short-term resistance and closed just below. We need to make sure the price breaks above this resistance at $24.75 before buying. A Moving Average Convergence Divergence (MACD) trading system generated a Buy signal. Action: Set a buy stop at $24.875, 1/8 point above short-term resistance. Our initial target is $28 and our secondary target is $32. We'll set an initial protective stop at $20. For the CHART: bull-market.com