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Microcap & Penny Stocks : ABTX - Agribiotech

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To: glen who wrote (1214)	12/11/1997 2:12:00 AM
From: cocoam	Read Replies (1) of 8359

Glen, Looks like a flagstaff forming. Hopefully a nice pennant will form during a brief consolidation. Then when the pennant comes to a nice apex near 12, possibly, you can get filled for the breakout to the upside. For those unfamiliar with TA, basically a vertical runup on volume forms a flagstaff, which is followed by a slightly descending pennant on lesser volume. When that pennant comes to a point, there will hopefully be a breakout on volume equal in distamce to the height of the initial flagstaff. Assuming 14 is the top of the staff with the bottom of the staff bring about 10,and let's assume a descending pennant reaches it's apex @ 12, then the next move up would be to 16. That's pretty simplistic and other factors could affect the move, but things are looking good. My only regret is that I didn't add to my position last week near 10 :-( Hey, but I'm happy. No need to be too greedy. I guess. CocoaM

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