NSKY's low dropped below the previous day's low for the first time
in over two weeks today. This tells me we have reached the end of
our uptrend. It does not mean that we have entered a downtrend,
however.
My analysis, for what it's worth:
When the price dropped below .03 today, many who live and die by TA
interpreted this as a sell signal. The resulting selling pushed the
price to the day's low of .022. Wild fluctuations and positive
momentum going into the close tell me that this phase of NSKY's life
is far from over, and that we can probably expect a holding pattern
over .02 (but probably not above .04) until news is released. In my
opinion, the stock has now finished its rumor-based run and will now
live a fundamentals-based life until the post-news run is ready to
commence.
DATE CLOSING PRICE OPEN HIGH LOW VOLUME
-------- ------------- -------- -------- -------- -----------
8/19/98 .027 .036 .036 .022 8,669,000
8/18/98 .036 .042 .043 .030 4,897,100
8/17/98 .039 .030 .042 .030 6,329,100
8/14/98 .027 .022 .032 .021 3,536,100
8/13/98 .022 .023 .024 .020 3,264,400
8/12/98 .025 .022 .025 .019 4,857,600
8/11/98 .022 .022 .023 .018 4,085,800
8/10/98 .022 .021 .023 .018 7,212,300
8/07/98 .021 .022 .022 .017 1,784,700
8/06/98 .022 .021 .025 .017 10,474,500
8/05/98 .022 .018 .022 .015 5,756,000
Michael Bendner |
