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K Seshadri
Digital Equipment has shown the first signs of reversing its direction. The stock had declined from a peak of Rs 190 to a low of Rs 133. In the previous two sessions, the scrip closing at Rs 140. On Wednesday, it established its consolidation once more. The stochastic indicator on the daily chart has signalled a buy. More important, the long-term investment signal has come.
The scrip's decline from Rs 190 to the current level offers a good potential for the upmove. The immediate target could be Rs 155. But the right perspective is to take into account the possibility of it keep climbing higher over the next few weeks. Technicals recommend a buy now with a stop loss at Rs 134.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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