This Is Why I Like IRF

  • November 5, 2004
  • Tsutae Kamada

I received a few
questions on International Rectifier (IRF), mentioned in yesterday’s
Nightly Daytraders Report. “Why are you trying to buy the stock if it is
trading below the 200-day MA?” Let me explain.

IRF has been making higher lows and higher highs. These are traits of strong
stocks. IRF’s technical condition is indeed improving. Although it re-crossed
below its 200-day MA, IRF successfully tested the lower boundary of a gap zone
and bounced off. Anyway, the 200-day MA was broken once. It does not look so
formidable anymore.

By the way, IRF already cleared its 200-day EMA six day’s ago.

Have a nice afternoon session!

T.Kamada

If you have questions, feel free to mail them to me.

(Two Charts above are as of yesterday’s close. IRF hit our target price
earlier.)

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