|
Home
Up
Co-brand
Partnerships
| |
|
9/21/99 Kent Electronics (KNT)
Points to watch: Kent
Electronics lost 80% of its value during a year long decline from October
1997 to October 1998. Since hitting bottom last October, the stock
has been forming a solid base. A confirmed long term double bottom
is now in place on the stock's weekly chart, and the stock is now testing
resistance at 19.68. The 19.68 level also acted as resistance in
late June, and it acted as support during 12/97, 2/98, and 5/98.
Technical indicators are strong during this run at resistance: weekly OBV
has been rising steadily since last October, as have both daily and weekly
RSI. Weekly MACD gave a buy signal in early July. A long term
buy signal would be given on a move above 19.68, but we would wait for the
stock to move above 20.75 (the 38% retracement of its 10/97-10/98 decline)
before acting.
|
DISCLAIMER
|
