Tokyo Joe's Cafe / Societe Anonyme/No Pennies Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: TokyoMex who wrote (11268)	11/13/1998 11:59:00 PM
From: JEB	Read Replies (1) of 119973

Joe, ONSL has a gap on their 5 day chart at 18. The stock will want to fill that gap now before making another run. ONSL 5 day chart: bigcharts.com (To all the Newbies: A "gap" is where a stock leaps to a higher or lower trading range. There is no gradually increasing price. It just jumps to the new price. Sometimes a stock is halted long enough for the MM's to catch up to the new price and it resumes its climb or decline. If you'll notice on the chart above, there is a gap overnight, between Monday and Tuesday of this week. All stocks have a natural tendency to want to come back and fill the gap. In this case, the gap started at 18. It will want to come back to 18 to have successfully filled the gap. 18 becomes a major support line. If the stock breaks through 18, then it will go lower, to a longer term support level (Go back 6 months if it breaks 18 for a lower support level). If the stock, after filling the gap, tests and then rebounds up off of 18, then it is very bullish and get ready for a rally.) Sorry Joe, didn't mean to use your post for this but it was handy! Thanks, JEB

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