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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: snoozlooze who wrote (3138)6/25/1998 10:09:00 PM
From: BONGIZMO  Read Replies (2) of 43774
 
Glad I could be of help. First let me say you are absolutely correct about technicals rarely being useful when dealing with pennies. My sole reason for including the moving averages is because PRWT has been trading such incredible volume and now that it appears that it may in fact be a 'real' company with fundamentals the technicals may start to work in this case. It's something to watch and should be interesting if this becomes one of the first pennies to obey technical charting. As far as why I use 20 and 50 day MA's they seem to be good gauges along with the 200 day MA for showing support levels. Typically stocks will come down and bounce off these levels if they are in an upward trend before their next move up. When you see it on the chart it will show higher highs and lower lows as a stock moves forward. Should a large cap break these levels it often gives the early signs of a breakdown and thus gives the chartist the reason to exit. LET ME STRESS TO ALL NEGATIVE TYPES THIS IS REFERRING TO LARGER CAPS AND NOT PRWT. IT IS STILL TOO EARLY TO CONSULT TECHNICALS ON THIS STOCK.

Sorry to yell but as you have probably noticed there are some elements on this thread that will read this , associate it with PRWT and then say the stock is breaking down on the next shake out.

Hopefully this helps and didn't confuse things more. Let me know if you need anything else.
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