BANY: Core business growth, exciting affiliations! Message Board

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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations!

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To: brad greene who wrote (4382)	2/5/1999 6:33:00 PM
From: Mike Sawyer	Read Replies (1) of 5847

Brad and all, go back and read these posts from a short while back. I think that you can see we can trust the technicals of this stock. techstocks.com techstocks.com Notice that when we did break through the $1 it was smooth sailing to $1.29 bid and then down it went. We then tested support around $.90 and it held very well. Our highest volume on a price tick was 120,000 shares traded at $1 even. The next highest was half that for 60,000 shares at $.97. About 3/4 of the volume today was at $1 or less. I think that this has set a very good foundation for support at a buck. I decided that it was good enough for me and made a purchase at $1. I do not expect it to be a negative trade for very long. I expect that we will soon retest the high today and if we can get a press release to bring new attention to the stock, BANY will move through the $1.29 bid high and test the $1.56 area. From $1.56 to $2 is as thin as the clouds so we may be in for a treat very soon. Go back and look at the chart and calculate the overhead volume from $1.56 to $2.00 and you will see what I mean. That doesn't mean we will skip right over it but it does mean that we will not have pressure selling from old stockholders until we get into the $2 range. At that point many that picked up on the stock around $1 will be looking at a double and profit taking will probably force it into a consolidation phase. We will have to wait and see what support and resistance areas are formed on the way to $2 before we can say what a likely consolidation base would be. At this point I would say...if you are not already in or you are ready to buy more. The $1 area is a very good buy. Cheers! Mike Sawyer

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