|
Biolase
Tech Inc (BLTI $14.40)
is a
leader in the Medical-Systems/Equipment group
that
designs, develops, manufactures
and markets laser-based systems for use in
dental, cosmetic and medical applications.
For the past six
months BLTI has been zigzagging between the $10
and $15 range, not finding support at
its 50-day moving average line (the blue
line), yet staying well above its longer-term
200-day moving average line (the red
line).
It appears to
be setting up very nicely, however disciplined
investors will be patient. As we've
stated before, successful investing isn't
about guesswork, but it is about reacting
intelligently to what is actually
happening. In this case it is premature
to assume that a bullish breakout will occur.
Waiting for a high volume break above its
June-July highs in the $15 range might
mean paying a bit more for it, however it is
recommended that investors wait until there is
actual proof of serious institutional buying
demand. Its highest previous close
was on July 22nd at $14.93, so
any close
above the $15 mark would be a very encouraging sign,
especially if high volume accompanies the rise.
Meanwhile, watch out for a break back down
under its September highs and 50-day line as
potentially critical exit points.
BLTI's recent quarterly financial
sales revenue and earnings comparisons versus
the year earlier have been very strong, while
its annual earnings history (the A in CANSLIM)
has been improving after years of shrinking
losses. It was in 2002 that the company
turned the corner to profitability. Note that
BLTI is +80% since it was originally
featured in the March '03 issue of CANSLIM.net
News at $7.96, however its upside
potential still remains substantial based upon
the small number of shares outstanding and the
huge percentage earnings increases the stock
has been showing. To read what our
experts originally had to say about this stock
in the March '03 issue of CANSLIM.net News click
here.
|
Prior 4 Quarterly earnings % Changes: |
|
Sep '02
vs '01 +300% |
Dec '02
vs '01 +150% |
Mar '03
vs '02 +200% |
June '03
vs '02 +167% |
|
Shares Outstanding:21.0
Million |
50-Day Avg Vol:
492,100 |
|
Pivot
Point: (.10 above high on 10/21)
$15.05 |
Max Buy
Price: $15.80 |
More Info:
5-year
Chart from BigCharts.com
Additional Resources...
Financials,
StockTalk,
News,
Chart,
SEC,
Zacks
Reports
IF YOU ARE NOT CURRENTLY
SUBSCRIBED TO RECEIVE THESE BULLETINS
YOU CAN SIGN UP HERE
|
Get
a Free 14 Day All Access Trial
STOCK BULLETIN