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Microcap & Penny Stocks : lcav -- Ignore unavailable to you. Want to Upgrade?

To: Manny Gugliuzza who wrote (202)	2/10/1998 6:12:00 PM
From: Harry W. Lowe	Read Replies (2) \| Respond to of 942

AR, My daily bar chart contains approximately 9 months of activity as maximum, the time duration can be shortened for any number under that. I determine the long term trend by using the least square fit (LSFT) or mean average of all trading activity for a given time period. For LCAV, this yields a negative trending mean average line. The termination price point of that line on today's date (2/10/98) is $1.79. Meaning that in order to rise above that price and thereby show a short term price trend reversal, the price must rise above $1.79/sh. on a closing basis. If that were to happen, the next upside price resistance would be $2.37 (a recent high). In my view, these are big IF's, because my Point & Figures charts do not show these upside price objectives as a probability. Down side support is $1.42 (55 day WMA), and $1.36 (8 day WMA), both of which are highly probable. My short term momentum indicators show a sell of the issue within 2 days. As far as the damped wave or indecision triangle is concerned, I don't have clear view into the future, and probably won't until we get more evidence of accumulation. As I have stated in past posts on this thread, the current price pattern activity will permit short term trading opportunities, but long term investors should avoid this issue for the present. Harry