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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (3694)	1/5/1998 11:06:00 AM
From: ed doell	Respond to of 7006

Although there has been support in the low 5$ in recent times, it is not a strong one historically, but it is so close to the 100dma. The support it has been getting in this area could exhaust itself. The 200dma is a stronger support area, which is in the low to mid-4$ range. There is an unrepaired gap up in that range, which, if filled, and supported at that level would prove a secure entry point. I mention all this because what price to enter this stock at this time is a serious question. If it breaks 5$ and sticks in the 4$, its marginability with some brokers will be impaired if not stopped. $4 support would provide a clearer picture, because holders in that area would be hard core longs (probably from a lower price point), and new money looking beyond the present picture (out at least 3-4 months). Ed