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Microcap & Penny Stocks : ONPT - A 52wk high price and volume
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To: rustyjack who wrote (134)4/9/1997 3:16:00 AM
From: Doug R   of 375
 
Ron,

That sure was alot of shares. It pushed back up in the last hour.
A good sign.

One line I have found that some stocks reach is a resistance level that
I call "The Impossible Line". I call it that because it would seem an
impossible task to achieve. ONPT hit it. The line changes with every
up and down move of the price giving it different origins and angles
of ascent each time. This one that ONPT hit (and stopped at on 3) has
an interesting point of origin that makes this line the hairiest I have
seen. I will be studying this one for some time. All I can do at this
point is watch and wonder.(I am not back in)

I can tell you that the first line of support for Wed. is 2 7/16. If it
can hold that, the blast off will remain intact.

The next area is at 2 7/32. If it has to use that I would imagine that
3 would become a pesky resistance level.

If it does get past 3 today, the impossible line will be at 3 1/32.

If it can break through the impossible line and hold, support will
move up 1/32 every day. Scale that to a stock like MSFT and that's
the equivalent of MSFT support moving up about 1 1/4 every day. But
currently that's how fast resistance is moving up for ONPT.

One last caveat, Ron I know you experienced SLHT's quick dip. Once a
stock hits the Impossible Line, it is very vulnerable. SLHT hit it's
IL.

I hope this isn't too long winded.

Doug R
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