LCRD LaserCard Corp, Buy/No buy? based on chart
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     jeremym005
Member
Username: jeremym005
Post Number: 4
Registered: 05-2007Rating: N/A
Votes: 0
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| | Wednesday, June 06, 2007 - 01:25 pm: |  
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It looks like this stock on the weekly chart as a mountain peak. And now the stock is range bound, bouncing between two channels, or consolidating. It seems their is a balance between supply and demand, or buying and selling pressure respectively. What would be the next course of action, buy when it breaks the resistance line to the upside, or maybe initiate a few swing trades, buying when the price touches the support or bottom line and sell when it reaches the resistance or top line.
Any help and suggestions regarding this stock will be greatly appreciated. I do want to stress caution is advised
Jeremy
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efficiency
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Username: efficiency
Post Number: 44
Registered: 12-2002
Rating: N/A
Votes: 0
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| | Wednesday, June 06, 2007 - 06:29 pm: |
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WOW. Long price history. A survivor. No coherent trends. Historic trends have been laden with daily volatility. Trader's dream but investors's nightmare.
Year long congestion from $10 to $14. Look at late 1988, just after similar congestion.
Simple solution. Perpetual buy stop. Oh, at about $14.56.
A couple caveats. Insiders only own 5% of the float. Given a 33 year price history, they know how to play the game. Price to sales at 4x isn't cheap, but not necessarily expensive. You mention supply and demand. Either can be induced by a market maker in accordance with his own merchandising and/or omnibus agenda.
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