Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : GAAY - Triangle Broadcasting Company (was TBCS) -- Ignore unavailable to you. Want to Upgrade?

To: francis terry who wrote (737)	7/7/1999 4:08:00 PM
From: Martin Matthews	Respond to of 2118

yea bummer but im happy need to get past .24 to fly and The MMs know it ans are accumulating shares by shaking the trees. MNM

To: francis terry who wrote (737)	7/7/1999 4:26:00 PM
From: Martin Matthews	Respond to of 2118

Some analysis form 50% per month board To: t.gawarecki (1347 ) From: Mike Sawyer Monday, Jul 5 1999 5:27PM ET Reply # of 1361 Tom, here's my analysis on GAAY. I've had several people ask me about the TA on it so I figured I'd also post it for you and Jon... GAAY Analysis GAAY tested resistance but could not break through it last week as there was not enough volume to sustain it. Technical traders could see that and the result was a sell-off. Look at these facts. On 5/25 you had over 17M shares traded on the breakout through it's double top of .08 cents. On 5/25 you had about 23.5M shares that put in a top of .24 cents. The next day the stock fell off of .24 cents on about 10M shares traded. Over the next week the stock retraced and put in a base at .12 cents on 6/7. From there you had a series of three small rallies that took the stock back to it's point of resistance at .24 cents. You could not break through it because you did not have enough volume. The overhead at that level is at least 10 million shares and you only traded about 7.5M shares on 7/1. Now the stock has headed back down to retest support at .16 -.17 cents. If it holds then you should move back to retest .24 in the next 6 trading days. At that time you may get a breakout. A bullish move would be to do that this week. It would also be another bullish sign if GAAY did not go any lower than Fridays low of .175 cents which would keep the trend of higher lows in effect. If you do, I would have a target of .36 cents (.31 is mentioned later). Of course any big hype can drive a stock farther but I would watch for resistance to kick in around that area. That number was established using a Fibonacci Ratio from it's original breakout at .05 and subsequent run to .24 cents. Fibo numbers gave support levels as .115, .14, and .17 and you can see that it was very accurate by looking back at the chart and seeing what the actual support levels ended up being. Tuesday could be a good day to take a position as it is the day that the current cycle should end and the next assault on .24 should start. One thing to point out is that the target of .36 cents is very speculative since there is no former track record in that area to look at past support and resistance levels. Ratios are very good but not perfect. They also give different results when using different support and resistance levels. Because of that I would strongly watch the .31 cent area very close. It is also a number that keeps popping up in my calculations. It could be an intermediate resistance level on the way to .36 cents. Always remember that technical analysis is not a perfect science. It is right more than wrong and extremely accurate on one stock and not as accurate on another. That being said, good luck and happy trading! Mike This guy very insightful and I have found his TA ison target. GO GAAY