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Microcap & Penny Stocks : Financial Intranet Inc. (OTC:BB:FNTN)
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To: majormember who wrote (2882)8/23/1998 1:42:00 PM
From: Bill Fortune III  Read Replies (2) of 2897
 
Greetings Skane and everyone. I am offering only two charts with two indicators each that I believe talk about a reversal or recovery on FNTN as of last Friday and the future trend for the stock.

I personally feel that FNTN will be in an up-trend and I offer the following to support my hypothesis based
on no adverse market conditions coming into play in the near term.

The first chart offers to indicators with the first one being: (Top 2/3 of the Chart)

bigcharts.com

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.

As you look at it you will notice the following:

BOLLINGER BAND OBSERVATIONS:

1. The Bollinger Bands were very wide for about one month.
2. On Aug. 11 they started to narrow and then on Aug. 19 they became very tight.
3. Then on Aug. 20 and for the first time ever FNTN closed below the bottom band line.
4. But on Aug. 21 it continue its downward movement but recovered that day to close above the bottom Bollinger Band line.

BOLLINGER BAND ANALYSIS:

1. Sharp price changes tend to occur after the bands tighten, after volatility lessens.
2. The price moved outside the bottom band on Aug. 20 and returned to above the bottom band on Aug. 21.
3. With a bottom being made on Aug. 20 at the bottom it now appears that a reversal should take place.
4. With this move originating at the bottom it should tend to go all the way to the other end of the band or somewhere are $2.00

THE STOCHASTIC OSCILLATOR (BOTTOM 1/3 OF THE CHART)
The stochastic indicator attempts to determine when prices start to cluster around their low of the day for an uptrending market, and when the tend to cluster around their high in a downtrending market. Lane's theory is these are the conditions which indicate a trend reversal is beginning to occur. Ordinarily, the %K line will change direction before the %D line. However, when the %D line changes direction prior to the %K line, a slow and steady reversal is usually indicated.

STOCKASTIC OSCILLATOR OBSERVATIONS:

1. On Aug. 17 the %K line moved below the %D line at about 18.
2. On Aug. 20 the %K line crossed above the %D line at about 18.

STOCKASTIC OSCILLATOR ANALYSIS:

1. The %K line continues to move upward and is currently at about 51.
2. The %D line has moved from flat to a upward movement and is at about 24.
3. It appears that a reversal has taken place which will continue.

RELATIVE STRENGTH INDEX (RSI) (BOTTOM 1/3 OF THE CHART) is a momentum indicator which measures an equity's price relative to itself and its past performance. The RSI indicates a security's internal strength. RSI quantifies price momentum. It depends solely on the changes in closing prices. RSI is less affected by sharp rises or drops in a security's price performance. It gives a better velocity reading than other indicators. RSI equals the average of the closes of the up bars divided by the average of the closes of the down bars. The time frame specified determines the volatility of the indicator. For instance, a 9 day time period under study will be more volatile than a 21 day time span. 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.

bigcharts.com

RELATIVE STRENGTH INDEX OBSERVATIONS:

1. That the RSI is at about 49.
2. That the RSI has returned to an upward movement.

RELATIVE STRENGTH INDEX ANALYSIS:

1. That the RSI is now in a strong area of around 49.
2. That FNTN stock is not in an "oversold" condition.
3. The RSI is in recovery and will continue to do so.

Please remember these are only my opinions and observations and others may differ with how I look at the charts and interpret them. Everyone must always do their own DD, research and analyze data for themselves.

Best regards,

Bill Fortune III
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