THNS - Technest Holdings (Prev. FNTN) Message Board

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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)

THNS 0.00

Jun 7 5:00 PM EST

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To: TechnoWiz who wrote (3101)	8/6/1998 7:34:00 PM
From: Bill Fortune III	Read Replies (5) of 15313

Hi Wiz and All, OK I am recalling some of my previous statements in regards to the potential upward price of FNTN. Based on a couple of Post by Mr. TechnoWiz: Message 5416802 Message 5427543 He made me revisit my own charts and examine them more closely. I made two post on August 3, 1998 Message 5395383 Message 5400282 My statements in those posts now may have been a little bearish in light of what has taken place in the past three weeks and more specifically over the last week. For these reasons I would now say, based on what I feel the charts are telling me and the overall current strength of FNTN the price estimates in those posts may tend to be on the low side. In my opinion the shorter price targets for FNTN should move quickly towards the $7-$8 range in a much shorter time frame then I first anticipated. From all appearances the very short term may bring a $5.00+ basing area. I would not normally back off on an estimate so quickly, but base on Wiz's concepts in his posts and the charts I use I would be remiss in not changing them as I have just done. In addition to what Wiz said I offer the following as some of supporting data as reasons for changing my earlier estimates. FIRST I WILL OFFER THE FOLLOWING CHART (All charts are based on three months): The top part of the Chart on all the Charts are the same and include: EXPONENTIAL or EMA MOVING AVERAGES and BOLLINGER BANDS THE EMA (3-Line)" will plots three moving averages: 18-bars, 36-bars and 54-bars in length. EMA 2 is always twice the length of EMA 1 and EMA 3 is always three times the length of EMA 1. BOLLINGER BANDS according to Mr. Bollinger notes the following characteristics of Bollinger Bands: Sharp price changes tend to occur after the bands tighten, after volatility lessens. When prices move outside the bands, a continuation of the current trend is implied. Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend. A move that originates at one band tends to go all the way to the other band. This observation is useful when projecting price targets. bigcharts.com SINCE 7/20 WHEN FNTN MADE ITS FIRST MOVE OUT OF THE 0.60 RANGE IT HAS CONTINUED TO MAINTAIN ITSELF WELL ABOVE ALL THREE OF THE EXPONENTIAL MOVING AVERAGES. ADDITIONALLY IT CONTINUES TO CLUSTER NEAR THE TOP OF THE BOLLINGER BANDS. SECOND I OFFER THE LOWER PART OF THE ABOVE CHART: USED AS A TREND-FOLLOWING OSCILLATOR, TECHNICAL ANALYSTS TYPICALLY BUY WHEN THE INDICATOR BOTTOMS AND TURNS UP AND SELL WHEN THE INDICATOR PEAKS AND TURNS DOWN. IF THE MOMENTUM INDICATOR REACHES EXTREMELY HIGH VALUES AND THEN TURNS DOWN, YOU SHOULD ASSUME PRICES WILL PROBABLY GO STILL HIGHER. THIS IS WHAT IS CONTINUING TO DO. SO THE ESTIMATE IS THAT PRICES WILL STILL GO HIGHER BASE ON PAST PERFORMANCE. THIRD I OFFER THE LOWER PART OF THIS CHART: bigcharts.com THE RSI RANGES BETWEEN 0 AND 100. RSI IS SAID TO INDICATE AN "OVERBOUGHT" CONDITION WHEN IT IS ABOVE 80 AND AN "OVERSOLD" CONDITION WHEN IT IS BELOW 20. HOWEVER, THE BUY AND SELL LEVEL VARIES DEPENDING ON THE AMOUNT OF BARS USED IN THE CALCULATION. A SHORTER SPAN OF BARS WILL RESULT IN A MORE VOLATILE INDICATOR WHICH REACHES FURTHER EXTREMES. A LONGER AMOUNT OF BARS USED IN THE CALCULATION RESULTS IN A LESS VOLATILE READING WHICH REACHES EXTREMES FAR LESS OFTEN. FOR THE LAST THREE WEEKS IT HAS MAINTAINED NEAR THE 80 MARK AND EVEN ON DOWN DAYS HAS MAINTAINED A STRONG POSITION ON THE CHART. There are about 10 different charts I use on a day-today basis so I won't bore you with any more. The bottom line here is that FNTN is out-performing what I had expected from my earlier reading of the charts and am happy to find myself in the situation of needing to upgrade my estimates. Today was a prime example of a strong stock in light of low volume. I think there are going to be a lot of potential investors who may be waiting for the stock to come down for a better buying opportunity. I think they better make a decision soon or they may be left behind. The only disclaimer I give you is that these are my opinions. If you don't agree with them maybe you could let me know what your opinions and ideas are. If you should happen to agree I would hope that agreement comes from your own due diligence, research and beliefs. Regards, Bill Fortune III

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