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Global Imaging - GISX - close: 36.50 chg: +0.87 stop: 34.65

Company Description:
Global Imaging Systems offers thousands of middle-market customers a one- stop shop for office technology solutions from 184 locations in 30 states and the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of automated office equipment, network integration services and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry. (source: company press release)

Why We Like It:
GISX turned in an impressive run during the third and fourth quarters of 2004. Yet like many stocks it sank quickly in January this year. Fortunately, the sell-off paused near the 50 percent retracement of its previous climb. Now after two months of consolidating sideways it appears that GISX is ready for the next leg higher. The stock is breaking out over the $36.00 level and its 100-dma on above average volume. Short-term technical oscillators are positive and its P&F chart is very bullish with a $67 target. We would like to target a move to round-number, psychological resistance at the $40.00 mark. However, earnings are expected (but unconfirmed) on April 25th and we will not hold over the earnings report. We want to go long at current levels and just see how far GISX can climb before it reports.

Picked on April 05 at $36.50
Change since picked: + 0.00
Earnings Date 04/25/05 (unconfirmed)
Average Daily Volume: 114 thousand

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