Replies to post #1593 on MMCLUB

[Naztrader]

ddfridd - KRY..........................................


KRY hit a new 52 week high back on 9/8 & 9/10. Looks like it double topped @3.25 and retraced hard. I haven't traded it in a while.

They did a $28+ million P.P. on 9/8:

http://biz.yahoo.com/prnews/030908/clm074_1.html

But I have to trade on technicals based on the way the market is moving these days. And the technicals presently on KRY, for lack of a better word, look like s-h-i-t. I would stay away for the time being:

TECHNICAL OPINION - CRYSTALLEX INTL (KRY) - 09/15/2003

Daily Opinion: SELL
Monday's very Bearish (down) move is accompanied by increasing volume (299% of average), suggesting a continuation lower on the next bar. Monday's gap down in price suggests further new lows are ahead. This is an extremely bearish sign. Sometimes a stock will pause, or rebound for a few days to fill the gap, before continuing lower.

Short-Term Opinion: UNDERPERFORM
On a short-term technical basis, the trend is Bearish (down) and the stock is slightly below its 50-day moving average at 2.20 which also confirms its Bearish (down) trend. The stock is neutral according to the Stochastic indicator (40.58).

Long Term Opinion: HOLD
On a long-term technical basis, the stock (KRY) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 2.32 suggesting the next support level is at 2.06. This weakness suggests the long-term trend is turning neutral.

The stock has support at 2.06 and 1.70. If the stock breaks down through support at 2.06 then it will probably continue lower to 1.70. The stock will meet resistance at 2.15 and 2.32. If the stock breaks up through resistance at 2.15 then it will probably continue higher to 2.32. The 200-day moving average is at 1.44. This will also act as support. The stock is neutral according to the Stochastic Indicator (43.16).


Good luck.



Regards,



Naz