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Microcap & Penny Stocks : ProNetLink...PNLK...Click here to enter

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To: RidgeRunner who wrote (17925)	5/5/1999 3:52:00 PM
From: Bryan	Read Replies (2) of 40688

IMO it would be safe to say we will see a bottom near $2 1/8- $2 3/8 I am looking to scoop em if we see $2 3/8. Price action in PNLK was toppish near $2.00 for a while, and when we broke above that level it managed to stay supported @ $2.00 after brief consolidation. We retested the support after the run up to $7+, and on another attempt (all things remaining equal) we should hold once again. This is nothing more than simple trend-line analysis. IMHO, anybody who sold this stock above $4.00 would gladly take em back near $2.00. In addition, shorts (yes there are shorts) will be looking at this level as well. It would not surprise me to see bids racked up sub-$2.50. One thing to keep in mind with trend-line analysis is that levels are approximate only. You have to look at areas of support and resistance. Anybody who says they can formulate exact buy and sell points from TA is full of crap. Just remember that incase PNLK bottoms out @ $2.50 and then starts to rocket again. This chart illustrates what should be support near $2.00 __________________________________________________________________________ 209.67.221.61

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