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American Superconductor Corporation Message Board

  • fib1_1_2_3_5 fib1_1_2_3_5 Feb 23, 2006 3:17 PM Flag

    grump, a quick question

    What price/line must AMSC break for you to consider it in an uptrend?

    I have to run for a while, so take your time on this one.

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    • Fib, you have an interesting screen name there, what's your assesment of the chart.

    • <<What price/line must AMSC break for you to consider it in an uptrend?>>

      11.99 is the quick answer.

      A 2 1/2 year chart shows the stock trading on both sides of a drifting lower 200dma. It produced a series of lower highs. My key point was the stock stalling and reversing at resistance on the way to 11.99 getting up to 11.89.

      12 would break resistance and confirm the double bottom showing at 6.91. In my mind the company has to turn a profit or show upward revenue guidance that is substantial in nature to give instutional buyers confidence. As it is many of them don't want it yet, it's too speculative.

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