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Biotech / Medical : Medical Industries Of America, MIOA
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To: Keechmon who wrote (127)5/1/1997 11:31:00 AM
From: William S. Noone   of 570
 
I just read a review of this company from The Swiss Advisory Group board. This is an advisory service to institutions in Europe. The report indicates that there appears to be some computer programming sell targets or limits at $3. a big one at $4 and another at $7. The report suggest that these are traders who bought the stock at .56 area and are going to be taking profits on some of their holdings which is a common trading practice. The technical evaluation by this advisory service indicates that a volume break out that is sustained above the $3 dollar area would be necessary to bring this stock to between $4 to $7 dollar range. The report goes on to say that MIOA would need to demonstrate to institutional investors that the company can put together a 2nd Q profit and then an annual profit before the larger institutions would be interested in this company. Many investors were burned on the reverse stock split, so the report suggest institutions will need to see more consistent results over time before they would speculate monies on this security. The report indicated that Travelers has a very small position in this company and continues to pick up stock for a longer term trade. This advisory services concluded that if MIOA can continue to demonstrate that the new business plan will produce profits this year, the company stock has the potential to move to the $20 dollar range. This would bring the stock in line with industry averages according to this report but it most likely will take more then just one quarter of positive earnings. The report suggested to keep an eye of sec filings to see what inistutions are taking a position in this company.
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