Re: [CANSLIM] MVL

From: Bob Johnson <starcast82@yahoo.com>
Subject: Re: [CANSLIM] MVL
Date: Wed, 2 Jul 2003 08:41:06 -0700 (PDT)

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IMHO - it looks like the time to get out was after it failed on the pullback to beat the June High. Showing weakness. Then it lost around $7 in four days on increasing volume, more weakness. Now the with the last two peaks on the chart you can construct a trendline headed south. The problem for now seems to be what looks like a gap 7 days ago between the 21 and 20 dollar level. Gaps prove to be tough resistance areas.

michael_niemotka@baxter.com wrote:As a question to the group,

Am I reading the chart correctly, in that MVL is now showing a sell sign
(yellow flag?) in that it is still below the 50dMA. Katherine had
mentioned that usually, a stock should show a rebound above that line in
about 5 days, and you would like to see that move above the line on strong
volume. So far, MVL has not been able to do that.

Overall, company is still strong, but I am wondering if I need to exit now,
and maybe keep it on the watchlist for another entry point.

Thanks

Mike

Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com



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<DIV>IMHO - it looks like the time to get out was after it failed on the pullback to beat the June High. Showing weakness. Then it lost around $7 in four days on increasing volume, more weakness. Now the with the last two peaks on the chart you can construct a trendline headed south. The problem for now seems to be what looks like a gap 7 days ago between the 21 and 20 dollar level. Gaps prove to be tough resistance areas.<BR><BR><B><I>michael_niemotka@baxter.com</I></B> wrote:
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%">As a question to the group,<BR><BR>Am I reading the chart correctly, in that MVL is now showing a sell sign<BR>(yellow flag?) in that it is still below the 50dMA. Katherine had<BR>mentioned that usually, a stock should show a rebound above that line in<BR>about 5 days, and you would like to see that move above the line on strong<BR>volume. So far, MVL has not been able to do that.<BR><BR>Overall, company is still strong, but I am wondering if I need to exit now,<BR>and maybe keep it on the watchlist for another entry point.<BR><BR>Thanks<BR><BR>Mike<BR><BR>Mike Niemotka , PE<BR>Sr. Principal Engineer<BR>Baxter Healthcare Corporation<BR>Route 120 &amp; Wilson Road<BR>Round Lake, IL 60073<BR>Tel (847) 270-4075<BR>Fax (847) 270-4525<BR>michael_niemotka@baxter.com<BR><BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim"
 or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE></DIV><p><hr SIZE=1>
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