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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: AriKirA who wrote (3733)	5/4/1999 4:40:00 PM
From: Grant MacMillan	Read Replies (1) \| Respond to of 8117

Actually, I wouldn't consider a $2 level artificial. If this company had active IR, there would be more than enough buying to sustain even modest prices. Problem is as Problem does; this company doesn't know how to market itself, so how can we expect them to market the product. Lost in Hoboken. GM

To: AriKirA who wrote (3733)	5/5/1999 12:23:00 AM
From: keith massey	Read Replies (3) \| Respond to of 8117

Ari...thanks for the nice introduction but are you sure you are talking about the right person <ggg>. I took a detail look at PYT tonight on Metastock to see if I could see anything of interest. With technical analysis the main factors you analyze are the short, medium and long term trends, historical support and resistance levels and chart patterns that may hint at the psychology behind the market (e.g. head and shoulders). The price range from $1.80-$1.70 is a large support area for this stock for a several reasons: 1. $1.80 is the low for the gap up in the stock's price on Feb 12/98. When the stock gets down near the level it gapped up from in the past, people who missed out on the first big run often see this as another opportunity to buy the stock cheap again. Because of this the prices near the historical gap up price often tend to give support to a stock. 2. Each time the stock got to the $1.80-$1.70 range in the past year buyers came into the market and drove the price back up. This is obvious on the chart on Sept 10/98, March 18/99 and April 8/99. This price is a psychological level for many buyers that have been accumulating shares. Once a support level has been established some technicians will buy at this support and set stops just below that price. 3. Historically a lot of stock changed hands in the $1.70-1.80 range in Mid-1996 and Mid-1997. These areas tend to be support for a stock until broken decisively. At this point these areas become a resistance level. Today the stock broke through the $1.70 level for the first time since Feb 11/98…hit $1.61 and recovered back to $1.75. I can guarantee that I am not the only one that sees $1.70 at the key support level. I am willing to bet that a lot of stops have been set from $1.69-$1.50. When it broke $1.70 today I am going to hazard a guess that stops were hit driving the price low causing more stops to be hit and driving the price to $1.61. However it appears that many people still see $1.70 as a key support level and were willing to go back and drive the price up. However the stock now sits in a key position. If it breaks and closes below $1.70 again I would take this as big sign of weakness. I would call the next key support level below $1.70 at $1.32-1.25 based on the historical trading in this range January 1998 and August 1996 and also based on the gap up in April 1996. There is an old saying in the stock world…”the trend is your friend”. I don't think I need to point out to anyone that both the medium/short term (1-4 months) and the long term (1 year in this case) trends are trending down based on all the standard measures (SMA, EMS, channels, etc., etc.) Conclusion This stuff is not rocket science. The stock is at a key support level right now. If it can hold this level and start trending up there is no major resistance until $2.90-3.00. However if the stock breaks through $1.70 and stays below I would say it is very probable that the $1.30 level is tested. Another factor to take into consideration is the overall stock trends for juniors on the VSE showing a tendency for stocks to fall during the summer months followed by a September-October recovery. Best Regards KEITH