Infowave Wireless Messaging IW:TSE Message Board

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Gold/Mining/Energy : Infowave Wireless Messaging IW:TSE

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To: T.J. McIntosh who wrote ()	2/2/2000 2:18:00 AM
From: axial	Read Replies (1) of 1690

Hi, Just finished a quick T/A on IW...this is nothing like the TA by APG et al on RB - it's just a down and dirty TA that I do on stocks when I'm already sold on the fundamentals, long-term. Briefly, it's been the biggest selloff we've seen in a year. bigcharts.com The Williams %R almost hit -100, and the MACD showed the heaviest negative divergence in a year. This is a classic oversold condition - but it looks like the MACD is trending to convergence, Williams %R is at -65, and the price channel is narrowing - bigcharts.com Shorter-term charting is positive, with volume accumulation up strongly. If we get further consolidation, and MACD convergence, then the stage is set for the next bounce. My take on this is that we've been hit with 2 things simultaneously-a general market cooling, together with huge profit-taking on IW - and it bit deeper than we thought it would. Given the buzz about NRs waiting in the wings (logically coroborrated by the imminence of NASDAQ listing news) I think there's a 60%-70% chance of a bounce to $30 within the next month, and 50/50 on $35 in 2 months. What would take it to $40? 2 big NRs about *reseller deals* - not alliances - resale or bundling deals where product is being actively sold into the market. My guess - about a 30% probability of $40. If Mr. G puts on his hob-nailed boots (which I don't expect) and hits the market with a 1/2% increase, then you can cut everything - percentages and price gains - in half. FWIW, Jim

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