Posted: Friday Apr 16 4:54:52PM 2004
I am not familiar with the fundamental analysis of eOptimize as it is not a company that I follow. However, I have just gone and had a looked at the 1 year bar chart and see the technical picture as follows: 1. Price is below the 50, 20 and 10 day moving averages which are still aimed downward (not yet at an upward crossover). A trend line drawn along the tops of the price bars indicate that a down trend is still intact. 2. The MACD has been and still is in a downward trend. Although it has gone quite low, it is not yet turning positive and showing strength. 3. The RSI is below its axis (50 line)and also still showing weakness. 4. Volume seems to be mostly sell off volume with some small amounts of accumulation. 5. The Stochastics have been bouncing up and down on the small Bear Rallies as price has been deteriorating and is still showing weakness at the moment. 6. Price has broken support at .24 and looks like next support is at .20 with further support at .14-.15 where there is a small gap (my feeling is that gaps tend to be filled - the question usually being when??). From this, my feeling is that price will continue to move downward but do expect some rallies to occur. A bottom may be indicated when the above indicators begin to show strength. Since technical analysis is usually influenced by fundamentals (and therefore used as a timing mechanism) I would suggest that patience is in order before taking a position in this company. Hope that helps. P.S. Am thoroughly enjoying this up beat and professionally minded forum - thanks QIS Capital and Doren Quinton.