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Microcap & Penny Stocks : lcav
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To: Harry W. Lowe who wrote (206)2/13/1998 5:36:00 PM
From: Manny Gugliuzza  Read Replies (1) of 942
 
well after putting in the expected 50% rise from the past low, this minute sell off, although 50 %, looks lackluster at best even with the gap down yesterday. volume is the real key here and investors seem to have walked away, or are waiting for the year end figures to match up the stock price to.

after retreating 50% again now from the recent rise with trailing volume this is really a toss up and some increase volume is really needed to move this price or we will start low level base line.

there is only a 20 cent difference in the upper 5 day bands and the
lower bands to the upper and lower price trading range respectively on a closing basis and they are narrowing down. this could form a tighter range of trading.

longer term bottom uptrend line drawn from the all time low to thru the bottom of this past low has support at 1.20 to 1.25. if you take out that single low of .56 cents then support is about 1.18. any break of this will test the previous low of 1.06.

need to fill that gap even though it is only 3cents and close above the 50 day moving average to resume uptrend but again volume is the key.

10 and 20 day moving average are at the same level again. so next week will tell if we can bargain buy again or have some resemblance of longer term support.

good luck to all.


ar.
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