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Buy Target: $3
Mental Stop: 2-7/8
Sell Target: $3-1/4
Analysis ==============
Daily: Price broke 200dma line in 1/97. Been tracking 200dma since with a
upward spike to resistance at 3-3/8 in a trading range of 1-3/4 and 2-1/2.
Also tracking 50dma since 6/97.
Intraday: 5 min charts show a major buy around 2-1/2 straight up to 3. Then
a sell-off to around 2-11/16 area. Then a rise back up to 3 the next day
and a 1.5 day decline to 2-3/4. So it tested resistance and then made a
higher low. Today, gapped up to around $3 and spiked to 3-1/4 on
significant volume. I monitored the Bid/Ask volume and noticed equilibrium
at 3 usually a sign of waiting by both sides. I bet the buy side and got in
at 3. Looking for a 1/4 point scalp.
Cheers,
Kawika Ohumukini
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