LL Knickerbocker(KNIC)/Pure Energy Corp Message Board

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Non-Tech : LL Knickerbocker(KNIC)/Pure Energy Corp

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To: Anthony Zack who wrote (457)	6/5/1997 9:34:00 AM
From: M.Hicks	of 1028

I asked a buddy of mine who is into technical analysis to look at the chart on KNIC. He doesn't care diddly squat about fundamentals, and views a compnay only as a way to make money, then he dumps them like a red-headed step child. Therefore, I felt he could give me an unbiased iopinion about KNIC from a T/A stand point. The 50 day moving average has crossed over the 200 day MA and both are rising. This is a bullish indication. Price is increasing on good volume, momentum is good, and several other indicators are bullish. Also, it looks like the price line has formed a "cup and handle", which usually precedes a nice rise in price to the next level of resistance. If volume holds up, and we can get through say 6-6.50, the next level of resistance would be around 7.75. If we break that, we could really gain some ground. This volume is happening prior to any news release which is good. Maybe the Insta-Heat IPO is ready to be filed. Look for some sort of good news soon. Mike

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