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Steris Corp. Message Board

  • j_d_foxy j_d_foxy Nov 14, 2004 10:52 PM Flag

    given lackluster performance

    at STE what would be a good entry point? I am thinking that if we get down to 20 again i may pick up a few shares. Any ideas on board?

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    • A 50% retrace of the runup from the recent bottom at $19.80 would be $20.80. If this bottom is going to hold for a while (which I think it is) you might be lucky to get a chance for some shares at @ $20.50 at best. The gap and 200 day MA (both around $22.50 now) are both beckoning.

      There are terrific weekly chart positive divergences that imply that we could see a challenge to the 04 highs on this rally, if the broad market cooperates, of course. Hard to have a 40% rally in one stock if the rest of the market is stalled or going down.

      Keeping tight stops in the (likely) event that I am wrong.

      Good luck, traders.

      ChiTrader

 
STE
69.13-0.51(-0.73%)May 22 4:03 PMEDT