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Axion International Holdings, Inc. Message Board

  • mikebert mikebert May 25, 1998 7:57 AM Flag

    Basing 2

    I believe that the bottom for this slide was at
    22. I bought at 22 and 23 and have orders to buy more
    below 23 if we revisit the lows. I put in the limit
    orders for 22 and 23 when the stock was still in the
    26-27 area because an analysis I had done has suggested
    the stock would bottom in the neighborhood of 24.
    Knowing this stock is volatile I had set orders 1 and 2
    points below my target hoping to pick up cheap shares,
    and I did.

    Since my buying, the stock has
    moved up and broken through the upper band of the
    downward trend line, which I take as a confirmation. Of
    course, if I were to buy now I would pay 26 1/2, $4 more
    than I did earlier.

    In the absence of my own
    analysis, there is just that single trendline breakthrough
    as evidence that we have bottomed, and I can't put
    too much confidence in just one indicator. Thus, I
    would have to conclude that based on standard methods
    it is too early to say whether we have based. Do
    people agree or disagree?

 
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