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Microcap & Penny Stocks : ABTX - Agribiotech
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To: Russ Roberts who wrote (1149)12/10/1997 1:23:00 PM
From: glen  Read Replies (1) of 8359
 
Russ,

A gap up is created when the low price of the day is higher than the high of the previous day, (and the reverse for a gap down). A technical analyst believes that when a stock gaps open from a bottom, (breakaway gap) it is a very strong indicator that an uptrend has begun. When up gaps occur in the midst of an uptrend (continuation gap),it usually means that the uptrend is alive and well, and that the price is going to move higher.(The reverse holds true for down gaps.)

A gap is a gap and the size is of less importance than the gap itself. Last week I pointed out in an earlier reply that ABTX had a high of 10 11/16 on Dec. 3, and a low of 10 3/4 on Dec. 4, thus a 1/16 gap. That was the early indicator of what was coming, and how a little knowledge of TA can sometimes provide an edge. So, go re-read reply #1057 and you'll see this weeks move was being foretold by the chart action of a week ago.

regards,
glen

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