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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Sans Souci who wrote (5727)	1/13/1999 12:24:00 AM
From: Marc Fortier	Respond to of 37507

Technically speaking, BII looks good for tomorrow. I mean, on a 5-days basis, the chart of Bid.com tells me that the stock is (believe it or not) oversold right now. The momentum is simply too strong, IMHO. If you set up a chart on www.canada.bigcharts.com, you'll notice that volume has gone up steadily for the last four days. Meanwhile we have experienced a peak at $9.90 and the shares have traded well over our current support at $7.25. While I don't pretend to be an expert in TA, if you look at the stochastic indicators (providing you are looking at a 5-days chart on a hourly frequency)you'll see that the lines are hovering around on the floor, around 20, the fast one moving up which is a good sign (at 80 they would indicate that the stock is overbought). Since all the moving averages (20, 50 or 200) are also up, we should feel comfortable holding our shares for the time being. Just my opinion. MF