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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Cary C who wrote (5210)	5/25/1998 11:51:00 PM
From: Al Greenleaf	Read Replies (1) \| Respond to of 29382

Cary - I'd be happy to look at PRGN. BTW, just for the record, I was looking at ITSY, not ISTY. If it is not a typo, let me know. Here's my look at PRGN: LT TREND: Is up. Trendline defined by 5/97 and 1/98 is healthy and sustainable. Accelerated trendline from 1/98 to 4/98 broke down, but current 2/1 to 5/19 short term trendline is more compatible with the longer term trend, therefore more sustainable. VOLUME: Has been increasing for 4 consecutive days! Average volume for the last 2 months is several times the average volume for the previous 3 months or 6 months. CHART PATTERNS: 8 month cup-and handle, two week "W", in context of uptrend is positive. OBV vs IT'S MOVING AVERAGES: OBV broke 90 dma on 2/11 and has stayed above it. Friday it again crossed the 18 day ma to the upside. (good). LONG MACD (13,34,89): Crossed zero on 2/17 at 13 7/7, to close at 26, then retraced below zero again, and is about to cross zero to the upside right now. Very positive. RATE OF CHANGE: Has not crossed zero, but HAS turned up. MONEYFLOW: Still negative, but turned up two days ago. RSI: Turned up sharply two days ago. SHORT MACD (12,26,9): Bottomed out a little below zero, but has turned, and is about to cross the signal line and zero simultaneously. Very positive. STOCHASTICS (13,8,8): Bottomed at zero, has turned up and crossed it's signal like, and is very close to crossing twenty. RELATIVE STRENGTH (QRS from Quotes Plus): On this one. rel. strength is very significant. On 2/13, it crossed 80 to the upside, and has gone into "pasted against the ceiling" mode, which is typical of strong uptrends. BOLLINGER BANDS: Price candles rising into narrowing bands, like near 3/12/98. Pretty normal behavior for an uptrend, and rise is likely to be orderly. SUMMARY: I love it. Chart and indicators call this a strong sustainable uptrend. So many indicators are bottoming and turning up, that this should be an immediate buy. Volume growth confirms this. Yes, Cary, this is as good or better than ITSY. It is more volatile, therefore less safe. But there should be greater rewards if watch closely. When RSI crosses down over it's 9 day moving average, or OBV crosses down over it's 18 day moving average, sell it. Regards, Al