Transnet-TRNT Message Board

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Microcap & Penny Stocks : Transnet-TRNT

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To: Alan Wojtalik who wrote (81)	9/29/1996 3:52:00 AM
From: Michael Carey	of 140

Hi Alan, I am truly an amateur at TA and rely more on fundamentals. It looks to me that TRNT tested its lows three times in July and August and each time less volume occured. If I understand the theory, that indicates that pretty much any "weak" holders of the stock have bailed out. First resistance level appears to be 3 and the next level looks to be 4. With the stock up over 50% (from a low of around 2 up to 3 3/8) I think we are well into something significant. I think a double from here is very do-able. I'm looking for a period of consolidation in the mid 3 range before the next move to 4-4 1/2. I think a lot of the buyers at 2 are going to see that $4 target and take their profits. Mike

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