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Microcap & Penny Stocks : QSOUND LABS INC - - QSND - - ACER GROUP - - IBM
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To: Jim Andrews who wrote ()10/28/1997 1:17:00 PM
From: HeyRainier  Read Replies (1) of 857
 
It was a little scary there for a little while when Q-Sound(will refer to it as Q) dipped to as low as 2 1/8. Wow, what a wonderful place to make an entry.

There was a reverse head-and-shoulders formation that Q broke out of when it cleared 2 5/8 about a month or so back. When Q weakened yesterday, it looked like firm support was about to be tested. And today, some weak hands sold out; the dip was based on low volume, so the sellers were inconsequential. Hope it wasn't one of you. Q-Sound is a solid company, and the fundamentals are rock solid.

Q is going to form what's called a Hammer in Candlestick Analysis...or at least based on today's activity. The Hammer, will be a White Hammer, in particular, an even more bullish variation of the above mentioned phenomena. Hammers are bullish reversal patterns, so I'm looking for today's action to signal a potential bottom for the weakness Q-Sound has experienced for the past few weeks. Hammers at support levels are even more effective as bottom signals.

It looks like I'm the only one here paying attention to this company, but I will continue to post my observations in the event that someone with a bright eye will be able to catch this one at current levels.

Regards,

Rainier Trinidad

Bullish Hammer: scifi.co.uk
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