LOK looksmart limited

technical opinion - looksmart ltd (look) - 03/13/2

  1. MJR
    1,085 Posts.
    TECHNICAL OPINION - LookSmart LTD (LOOK) - 03/13/2003


    Daily Opinion: HOLD
    Thursday's very Bullish (up) bar with above average volume (114% of average) suggests a possible move higher on the next day.

    Short-Term Opinion: HOLD/BUY
    On a short-term technical basis, the trend is Bearish (down) and the stock is below its 50-day moving average at 2.73 which also confirms its Bearish (down) trend. The stock is extremely oversold according to the Stochastic indicator (22.00), so look for a possible rebound. The CandleStick chart has formed a Bullish Engulfing pattern which suggests that buyers are coming back into the stock. The stock should continue higher for the short-term. Confirm with other opinions.

    Long Term Opinion: HOLD/BUY
    On a long-term technical basis, the stock (LOOK) is trading above its 200-day moving average which implies it is in a positive trend.

    The stock has support at 2.10 and 1.95. If the stock breaks down through support at 2.10 then it will probably continue lower to 1.95. The stock has resistance at 2.36 and at 2.73. If the stock breaks up through resistance at 2.36 then it will probably continue higher to 2.73. The 200-day moving average is at 1.95. This will also act as support. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 2.10 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (8.49), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely


 
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