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Microcap & Penny Stocks : Technical Trading of Pennies
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To: paul s. who wrote (79)5/4/1998 5:36:00 PM
From: Gwolf  Read Replies (1) of 478
 
Paul, I am looking at the high of $1.34 made on 7/29/97 as the starting point and connecting it with the high of $1.07 made on 11/19.97. The high of $.81 on 2/17/98 did not completely get up to the trendline. That trendline was recently broken at approximately the $.65 level and you would expect some kind of a retest to establish that the downtrend has been broken and doesn't re-establish itself.

If you are a follower of the bollinger bands isn't the stock at the point where you would expect a contraction of the band.

Do you follow stochastics at all?

There is some very powerful news that will be coming out on the stock in the near future. Establishing where the low will be after this current wave of buying is over is very important if anybody wants to get in on the big move.

Gwolf
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