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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (533)	3/29/1998 11:30:00 PM
From: HeyRainier	Read Replies (2) \| Respond to of 1720

[ Polymedica: PM ] Hello TexasDude, That's an interesting company we have here. The stock is trading within a Wedge pattern (see my web page for examples: members.aol.com. While short term indicators are bearish, given the bullish tendencies of the company's fundamentals, the price support evident at the 150 day moving average is encouraging. Note that the price has been respecting a short-term downtrend since early February (based on a candlestick chart). That could change tomorrow with a breakout above Friday's high, to an upside target of about $12.80. From a Close-Only chart, the price has managed to squeak out of its Wedge to the upside. This could give it some push tomorrow from the chart readers who use this type of chart exclusively. Also, based on this type of chart, the price was trading directly at the long term support line, another plus for this. I just wish my other short term indicators weren't adding to the bearish static on this one, because it makes the picture a mixed bag from a purely TA perspective. Regards, Rainier