LOK looksmart limited

technical opinion - looksmart ltd (look) - 04/11/2

  1. MJR
    1,085 Posts.
    TECHNICAL OPINION - LookSmart LTD (LOOK) - 04/11/2003

    Daily Opinion: BUY
    Friday's very Bullish (up) day with extremely high volume (257% of average) suggests a continuation higher on the next bar.

    Short-Term Opinion: HOLD
    On a short-term technical basis, the trend is Bullish (up) and the stock is above its 50-day moving average at 2.63 which also confirms its Bullish (up) trend. The stock is slightly overbought according to the Stochastic indicator (71.67).

    Long Term Opinion: OUTPERFORM
    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 2.85 and 2.63. If the stock breaks down through support at 2.85 then it will probably continue lower to 2.63. The stock has resistance at 3.52 and at 4.19. If the stock breaks up through resistance at 3.52 then it will probably continue higher to 4.19. The 200-day moving average is at 1.99. 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 2.85 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (87.49).


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