Go to Jeff Salisbury LWGate Home Page.From: "Mike Artobello" <marto@mail.ccnet.com>
Subject: [CANSLIM] Analysis of CMVT
Date: Wed, 26 Feb 1997 18:51:33 -0800
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The following is my analysis of CMVT. This is one of the stocks on my
watch list.
CMVT - Comverse Technology
C - +43% +48% +53% +85%
A - +40%
N - Soros Fund Management forms new $30 million technology venture
capital fund with Comverse Technology subsidiary (source: Yahoo Quotes)
S - 21.6 mil. shares outstanding 18.6 mil. float
L - EPS 95 RS 92 GS 59 Acc/Dist B Timeliness B
I - 39 % Funds 10% Banks
M - Down today on Greenspans comments. May continue to correct before
heading back up.
Chart Pattern: Saucer and Handle
Saucer
Left Side High: 41 7/8 on 9/20/96
Bottom Low: 30 7/8 on 11/21/97
Right Side High: 46 1/2 on 1/21/97
Handle
Major Resistance: 46 1/2 on 1/21/97 & 2/25/97
Recent Support: 42 3/4 on 1/21/97 Hit again several times
Highest High: 47 5/8 on 2/18/97
Highest Close: 46 3/8 on 2/18/97 & 2/19/97
Lowest Low: 41 3/4 on 1/20/97 & 2/5/97
Lowest Close: 42 1/2 on 2/7/97
Pivot Point: 46 1/2
Pivot Point +5%: 47 7/8
Pivot Point +10%: 51 1/8
Saucer has formed over a 4 month period, handle has been forming for
the past 4 weeks. Record earnings reported 2/18/97 for 4th qtr 96 and
fiscal 96. Hit new highs for 3 days following earnings report then began
correcting. Closed down today at 43 7/8, near recent support.
Has higher institutional sponsorship then I'd like, may have too much
exposure. According to Zack's, 7 brokers have buy recommendations with
6 of them strong buys (source: Yahoo Quotes). However, this looks like a
strong company and I'm going to keep my eye on it.
Regards,
Mike
- -----------------------------------------------------------
Mike Artobello
marto@ccnet.com
http://www.ccnet.com/~marto/
- -----------------------------------------------------------
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