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Microcap & Penny Stocks : ALYA Cost cutting system via software as well as security
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To: Jeffrey L. Henken who wrote (2095)12/1/1998 9:23:00 AM
From: TLWatson59  Read Replies (1) of 2534
 
Jeff: At this stage of the game it's anybody's guess where support if it does develop for this stock will kick in. The technical chart pattern offered one hope a short while ago when the stock broke its long term down trend with a rally near 80 cents. The failure not only to follow through on the upside but the subsequent breakdown of the previous support level between 55 and 60 cents kind of sealed its fate. At this point the question is how much tax-loss selling is yet ahead and whether or not any more cheap insider stock is still poised to hit the market.

I have mentally put this stock on the back burner. Until I can verify any sales claims and contractual closings other than through having to accept PR releases which are too ambiguous in their wording or rely on telephone calls to people who have to have a bias in what they say without a written confirmation, I would have to hold off going long.

From a purely TA it would not be surprising to see the stock fall to the mid or high 20 cent level. What to do should that happen is still an open question in my mind. With a certified financial report, verified assets and confirmed sales and source of capital one might be better off paying $2.00 for this stock if the technology they claim to have turns out to be correct. Until that is cleared up, the stock seems to be a vehicle to distribute stock for a select group of people while using questionable PR releases to bolster the market price.
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