Hello Eric,
I was offline for a few weeks over Christmas but I have been checking in periodically on Financial Intranet and I like what I see.
Technically, the stock looks potentially explosive. If and when it can break out of this trading range within which it has essentially been contained for the last seven months, I would expect a sustained move to unfold. Remember, the basic rules of technical analysis: The longer the trading base, the higher the eventual price will go.
I'm not going to put any targets on this but if you measure this base and geometrically project it verically, the result is quite startling!
Volume has been increasing in recent weeks and the stock acted very well last week, especially Friday, with the closing on the high of the day and also closing higher on the week, month and quarter and also rising above the December 31 close.
So, as I see it we have this incredibly long trading base that has held the stock down within the $.50 band, therefore I would have to conclude that any meaningful breakout well above this resistance would have to be construed as extremely bullish.
Once again, based upon the initial liftoff and very high volume that accompanied that sudden turnarond, I still believe that the next move should be at a minimum at least as large and if greater it would signal some sort of major changing dynamic in this issue.
Some other stocks that are acting particularly well are TLK, WCII, VICL and GVIL.
Best wishes for a happy, healthy and prosperous 1998 and beyond to you and all on the thread.
rgds
Techno
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