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.

Technology Stocks : GTIS - Will it be a Phoenix or not ? -- Ignore unavailable to you. Want to Upgrade?

To: RayV who wrote (1904)	4/21/1998 12:46:00 AM
From: V.	Read Replies (1) \| Respond to of 2319

Hi Ray, With the Naz being strong today, as well as the PR, GTIS moved a bit higher on a better than average volume. It is currently at a level of resistance, in the low to mid 10 range. It will need to break above 11 - 11 1/8 now, on decent volume to move higher. Had the PR not been announced, it would have most likely sold off a bit further today, but PRs obviously can and do drive momentum as we observed in this session. My impression is still that it will retrace somewhat from here prior to the next move toward the low teens. I would not think that this is the time to buy, unless a substantial volume comes into it tomorrow and enables it to break through the current resistance level, which would be a similar scenario to the break from the 7-8 range recently. Shorter term, the indicators are overbought and I would maintain that it is an exit point for short term traders, or a good time to write some very short term calls on longer term holds if one can live with the strike plus premium as the possible sell. Otherwise, I think it will pull back and find support at the upper 8 to low 9 level over the next few sessions. That would be a good entry point should the volume taper off on this retracement, IMO. I am curious to see if the volume can be maintained tomorrow. If so, it might be able to hold above 10 a while longer, but otherwise I think it will be selling down a bit from here as I mentioned. Surely any other unexpected PRs or rumors will help to keep it in the current range, but eventually, it will have to come back to the aforementioned levels before it can move to & maintain the next level of support. Best Wishes, V.