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Microcap & Penny Stocks : QSOUND LABS INC - - QSND - - ACER GROUP - - IBM -- Ignore unavailable to you. Want to Upgrade?

To: HeyRainier who wrote (107)	12/16/1997 5:59:00 PM
From: HeyRainier	Read Replies (1) \| Respond to of 857

Now, a comment on QSound's recent trading: It looks like the issue is currently weak and is not generating enough buying interest. The test of the 2 year-old $4 price high failed and promptly snowballed into weakness, for a 100% retrace of the breakout. In the meantime, QSound remains in about a 1.5 point wide upward trading channel, and will be subject to fluctuation within these bounds. The upper and lower boundaries are about 4.2 and 2.8, respectively. I should have recognized the significance of today's early morning action, in that the potential move to close below 3.5 would represent a bearish failed signal called a Bull Trap. The close however is resting above support at 3.2, the downtrending resistance level QSound once needed to break through before it jumped to 4. There's more support at this level than the previous 3.5 level mentioned, and I'm more comfortable with valuations here than before when we were at the high 3's. The long term trend is still up and my other key indicators remain in bullish territory. I'm thinking perhaps the rally in larger cap issues might have attracted money away from our little issue here. In the meantime, we sit. Regards, Rainier