Watch Energis (EGS)...

Riz

Experienced member
1,266 5
I am sure you'll recall me chasing this stock from 450ish to 560ish in 3 or 4 weeks time in the previous thread...I got in and out twice and made profit on both occasions.. anyway it's now been pulled back to 450 again...I think it's time to chase EGS again as of 2nd January..

EGS has a very strong support at 440 where it's already bounced up a number of times..last time it tested 440 last week bouncing to 460 then back to 450..better watch if it bounces up from 450 straight away or needs another test of 440 before considering to get in...

EGS has received many buy recommendations in the last 3 or 4 months...last one was JP Morgan at 442p last week stressing on EGS' change of direction by acquairing 75 per cent of Ision for around £496 million. Since Ision is Germany's number one web hosting company, the broker thinks that this move is part of Energis' change of strategy to provide a value-added service to its customers and that the deal should allow Energis to replicate its UK success in Germany...

EGS is certainly worth watching again...

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[This message has been edited by rizgar (edited 30-12-2000).]
 

Cigar

Well-known member
291 13
I don't know if it is relevant but there was a very large drop in OBV in the week before Christmas.
Could now be an overhang of shares in the mm's pot. Might explain the small most-recent rise.