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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (11705)	7/19/1998 10:10:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

RCOT.. A "Market Gem" looks to make a reversal here. On Friday stock broke TRIPLE top Point and Figure chart formation. Support is at 33 and resistance is at 35 3/8. Recoton is a world leader in the consumer electronics aftermarket of parts and accessories. They are sold through such high-volume retailers as WalMart, Circuit City and Sears. RCOT has made a string of 14 acquisitions since 1989. During the first quarter of 1998, revenue rose 51% to $144.7 million, operating margins increased 1.4% to 5.3%, and earnings jumped a whopping 500% to $0.30 per share from $0.05 in he year ago quarter. Recoton has beaten analysts' earnings estimates for four consecutive quarters and quite soundly. Sales growth is still estimated to be 34% in 1998.