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John,
I am looking at IMOS. See below.
IMOS: IMOS had a very strong move last year from under 1 to as high as
15 ½. A late surge from the end of December alone took it from the 7
range to more 15, or a double in just a couple weeks. But since then the
stock has been in an intermediate decline like most tech stocks, in
particular semiconductor stocks, of which this is one. This stock then
moved down in an orderly channel that culminated in a spike low at
around 3 1/2 in mid-August, which was followed by a high-volume spike-up
and gap, taking it back over its 21 and 40 day moving averages. A 2
½-week flag resulted on low volume, and then last Friday the stock moved
up out of the flag and across its declining tops line and appears ready
to test and perhaps take out the August highs around the 5.80-6 area. A
move above 5.80-6 should lead to the next resistance level around 6 ½,
but initial target is secondary resistance at the top of the channel
around 7 ¼-1/2. Beyond that intermediate target is around the 9-9 ½
area, and longer term the 12-13 zone. Short-term support would be at the
bottom of the recent trading range down around the 4 ¾ area, and at the
most the gap support around 4.60. So let’s call it the 4.60-75 zone as
support.
jvc689@xxxxxxx wrote:
> Dear Ira,
>
> Good one! I almost had to think twice to figure it out...sad to say.
>
> I am currently looking at:
> HQH
> HQL
> RVT
> for income and potential appreciation.
>
> I just bought:
> SCUR
> BEAS
> AINV
> CRESY
> for long term appreciation.
>
> Anyone with any fundamentally sound swing trading ideas, please post.
>
> Sincerely,
>
> John
>
> >
> > Sent: Saturday, September 11, 2004 8:48 PM
> > Subject: My new favorite quote
> >
> >
> >> Only two things are infinite, the universe and human stupidity, and
> >> I'm
> > not
> >> sure about the former.
> >>
> >> -Albert Einstein
> >>
> >>
> >>
> >
> >
> >
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