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Re: freeus post# 1830

Friday, 03/02/2001 6:20:28 PM

Friday, March 02, 2001 6:20:28 PM

Post# of 4110
freeus,

I see a weakening of technicals. This stock looks like it was in the hands of the daytraders/momentum crowd yesterday, as evidenced by the 5 times normal volume. Now, they're leaving, taking profits with them. Williams, OBV, and MFI are hooking down, though stochastic and MACD still show buy signals. The stock is overbought, and way ahead of the 50 day ema.

http://www.askresearch.com/cgi-bin/chart?symbol=RI&exchange=USA&size=800x600&months=3+mo...

I don't see that this stock has a lot of upside momentum anymore. A better entry would be closer to the 50 day ema, IMHO. Buying pressure looks to be evaporating, and profit taking is likely soon.

All JMVHO, as always.........

WS

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