LAMR upgraded but no reaction
Monday, August 20, 2007
Lamar Advertising shares didn't react to an upgrade given by an analyst of Bear Stearns that said recent declines in the shares of the outdoor advertising company makes stock attractive. Stock opened the day on Gap Up but quicky filled the gap closing with a Big black candle but in positive territory, however no good signals for Bulls. Well, looking at the daily chart, it seems thta stock is still having problems to gain momentum to recover latest loses. Bearish signal was already given by 50 dma that crossed below 200 dma, so be carefull on the long side here.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: LAMR