I could talk some about this penny pick, but that would be only for entertaining purposes, and time is scarce.
So I'll give you just the main reason why I'm buying this penny stock and after that, on the daily updates, I'll investigate more about the company (I know some about the company, but that you may know yourself by reading the profile and the latest news and press releases (http://www.marketwatch.com/tools/quotes/quotes.asp?symb=fasc&siteid=mktw&dist=mktwqn)).
Over the last 6 months I've seen and analyzed thousands of charts, on a daily routine. And I know the technical pattern below delivers a rise in the PPS.
Watch the accumulation phase with volume above average before yesterday's breakout. I've seen this in WWAT.OB before it took off (now it's down again, but it doesn't matter).
I'll buy 10% of the 3 Pennies on Fire Portfolio on FASC.OB around today's open, 10% of the portfolio as usual (just about $1,300).
We've had a bullish breakout on FASC.OB, as expected. This breakout gives me a technical target of $0.075 and I'll take profits there if I have the chance (the 3 Pennies on Fire Portfolio needs profits).
The last 3 days action looks like a retest to the broken resistance, now support. I'll continue trying to sell it around $0.075.
Please correct me, but the descending support today must have us close above .04 ?
Quote from: puenthouse on November 10, 2005, 01:51:30 PM
Please correct me, but the descending support today must have us close above .04 ?
Yes puenthouse, FASC.OB broke support on the downside. But we still have higher lows and higher highs on the medium term chart.
The company hasn't got much revenues, but not much debt either. I think it will continue as a going concern, and there's some light at the end of the tunnel:
«On September 26, 2005, the Company signed an exclusive license agreement for manufacturing and marketing the KDS System in Japan with JP Steelplantech Company of Yokohama, Japan. As part of the agreement JP Steel will pay licensing fee and will purchase and install a fully operational KDS at its facility in Yokohama to be used for sales demonstrations and research purposes. JP Steel will also pay a royalty for each machine manufactured and sold in Japan.»
I'll continue holding.
Hello,
Sold FASC.OB @ $0.038
(Please read David's last article: «Current General Market Overview (http://www.3stocksonfire.org/trading/index.php?topic=3785.0)» for details)
best regards !
Gotta hate that... :o
Now gotta love that :o :o :o :o
Second time I'm happy I did not sell the pennies off but gave them time ;).
Great news! Finally!
Amarens
Yea, I let it ride too. But the reason I let it ride is b/c when I first made the purchase I calculated wrong and bought $200 worth instead of $2000....so I just let the measly $200 ride it out.
Will just let it go.
Good luck....Jody
Any opinions now?
:o
First American Scientific Corp. Announces Sale of KDS Micronex Equipment to Nutritech Solutions Ltd. (NTS)
http://biz.yahoo.com/iw/061002/0168499.html