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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: Joe Griffin who wrote (2497)	1/16/1998 3:00:00 PM
From: Harley Morgan	Read Replies (1) \| Respond to of 6317

Always a personal decision. From a technical basis only (remember the past is not always a solid predictor of the future): JBIL MUST hold at the resistance (i.e. no closes below). A successful bounces off the resistance with volume should drive into $44-45 range. But, you cannot be sure of the rally until the resistance is not penetrated and the rise begins on some volume. Therefore, buying here is a risky proposition. I never thought we would see the $29 range before given the fundamentals. Now we've had an on target quarter and further deterioration of prices approaching earlier resistance. Fundamentals still look good - stable earnings growth forecasts, business with strong growth companies, overseas plants with good currency exchange implications in an overall growing business. That does not mean that some investors will not tire of the stock play and bail or SEA sends another round of problems our way. My recommendation - wait to buy on the rally! Good Luck.