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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: JIN CHUN who wrote (3784)2/22/1998 12:16:00 PM
From: JOHN WHITE  Read Replies (2) of 27968
 
Jin thank you for the kind response on my first SI post.

I know many of us are wondering about future price action of FAMH. Most of us expect it to start up soon-but how much up???There have been some good comparisons made with other staffing companies in trying to figure FAMH's price potential. But the PEs have run from 14 (Kelly) to near 100 (Vincam Group) so where does FAMH fit in? No one can really know but there are some general guide lines in TA (technical analysis) that can point to FAMH's future.

BASE
During the time management has been laying a sound fundamental base a price base has been made at just about where we are now. Those into TA love bases like FAMH's current long 8 month one. This long base period has allowed those who bought in at higher prices to have either sold and gone somewhere else or bought more and averaged down.

OVERHEAD
There can only be a very few who are holding at higher prices waiting to sell and recoup as the stock price climbs. THERE IS NO OVERHEAD for this stock to work its way through!!! While the day traders will be into FAMH soon and yes some will sell at a good % of profit there are no "overhead" walls to slow it down. This is the reason that long bases often preclude dramatic price increases.

NEAR TERM PRICE
OK. Here is my take on near term pricing(and yes here's where I'll probably loose any and all creditability):Looking at FAMH's chart and (1) length of the base (2) price range within the base (3)the average volume in base period, when this stock starts to move upward it'll have some hiccups as it moves to $1.50 area. If management can keep momentum going -timely and positive news- after this price area is reached the next price plateau might be around $3.50/$4.00.

Hope this gives some of you encouragement to hang on for what looks like a good future with FAMH.

John
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