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Microcap & Penny Stocks : Microvision (MVIS) -- Ignore unavailable to you. Want to Upgrade?

To: Steve who wrote (3902)	12/22/1999 11:58:00 PM
From: Carl R.	Read Replies (1) \| Respond to of 7721

The general rule as far as figuring out areas of resistance is that the longer a stock trades in a given range, the more resistance it will encounter when it enters that range again. This is true whether entering the given range from above or below, and thus such an area can be either resistance or support. In the case of MVIS, the stock spent a lot of time and traded a lot of shares in the 22-25 range, so there should be resistance there. If the stock gets above 22-25, then the resistance turns into support. The psychology is that there were a number of people who bought the stock between 22 and 25, and these buyers have until recently been deeply under water. Many will be happy to escape at break-even, and thus will sell when the stock approaches their purchase point. Carl