lcav Message Board - Msg: 1327626

STOCKTALK

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Microcap & Penny Stocks : lcav

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To: cbfromli who wrote (9)	5/3/1997 6:54:00 PM
From: Harry W. Lowe	of 942

Carlos, I downloaded the stock data for MIOA this morning, and the following is a brief analysis: Daily chart - The short term trend (3-4 months) is up. Support is $2.41/sh; upside resistance is $3.125; sell signal was given on 4/28/97, and is still in effect. Weekly chart - The long term trend is down. The stock appears to be in a prolonged basing pattern after steep drop. The 1:20 reverse split on 11/1/96 cannot be good for the stock. Revese splits are generally a danger sign for stocks, and this appears to be no exception. There is a MIOA thread on S.I. which you might visit. Regards, Harry

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