XNN

[njshiva]

where is traderdog now.?? He made this thread look like a yahoo board   

I think the alarm was raised last week itself with this news.

Xenonics Gets 'Going Concern' Opinion
Friday January 5, 5:58 pm ET
Xenonics Receives Audit Opinion Containing 'Going Concern' Qualification

CARLSBAD, Calif. (AP) -- Portable lighting products maker Xenonics Holdings Inc. said Friday it received an audit opinion containing a "going concern" qualification.

If a company qualifies as a "going concern," it means it has enough financial resources to operate; if not, the company is bankrupt.

n Xenonics' 10-K filed Dec. 15 with the SEC, the auditor included a statement noting that since the company posted losses for the years ended Sept. 30, 2006 and 2005 and has an accumulated deficit, there is substantial doubt about Xenonics' ability to continue as a going concern.

In the filing, auditors said the companys continued existence is dependent on its ability to obtain orders from the Department of Defense and/or additional equity and/or debt financing to support planned operations and satisfy obligations. There is no assurance the company will be able to do so.

Xenonics Holdings products are used primarily by the military and law enforcement to illuminate dark areas.

The company's shares rose 2 cents to close at $2.45 on the American Stock Exchange, and fell 9 cents, or 3.7 percent, to $2.36 in aftermarket electronic trading.

[Melf Elf]

I think the alarm was raised last week itself with this news.

Xenonics Gets 'Going Concern' Opinion
Friday January 5, 5:58 pm ET
Xenonics Receives Audit Opinion Containing 'Going Concern' Qualification

njshiva,

Thanks for posting that.  Applause. 

I wondered if, in addition to the lousy chart action, there was any bad news.

where is traderdog now.?? He made this thread look like a yahoo board 

That's unfortunate. 

[Melf Elf]

The 200DMA was at 1.87386 yesterday, and rising, so 1.87-1.89 is DOUBLE support here, and XNN "should" at least get a bounce.

All of you know that I am strongly against doubling down on a big loser like this.  Over time, it's a terrible strategy.

I hesitate even to say this, but if I had this kind of huge loss and were to "tempt the market gawds" on a double down, this is the place that I would do it, with a very firm stop at 1.86...or 1.85...

XNN made a low of 1.861 and has bounced, so it's got a decent chance of a rally to 2.33 - 2.34. resistance.

[Melf Elf]

XNN made a low of 1.861 and has bounced, so it's got a decent chance of a rally to 2.33 - 2.34. resistance.

The "Double Down" target at resistance, 2.33 - 2.34, MADE this morning, for a gain of 25% off the 1.86 low.  The high so far this morning is 2.33.

I still don't recommend that strategy unless you're entering at what "should be" solid support, with a very tight stop.

This time, it worked out.

[Holygrale]

Melf,......... wow ..............nice call! 

You the man.............I tip my hat to you, your like clock work........have a good weekend!

This is why I appreciate this thread "website"........guys like you making it happen! 

Applaud..........(this is where you take your standing Ooooovation by the way)   

[Terliso]

Updated chart XNN

[Melf Elf]

Interesting turn of events in XNN. 

The turn is from Bearish to Neutral, and it will turn Bullish if it can take out the 3.63 - 3.61 neckline of this Bullish Inverse H&S.

Recent History:

1. XNN had a Parabolic Rally, breaking out above the September 1.89 high, to a high of 4.05.

2. As often is the case with Parabolic Rallies, this one ended very badly, in a Bearish Wolfe Wave...

3. And, XNN had a Parabolic Return back to 1.90, a penny above the September high, and right at the 200DMA.

THUD.  Those Round-Trippers are so-o ugly.  And, painful. 

Recovery Attempt:

1. XNN came off 1.90 support, and rallied to 2.33-2.34, the two lows that were support, prior to the final collapse to complete the Parabolic Return.

"Former support (2.33 - 2.34) 'should be' RESISTANCE on any rally attempt."

It wasn't.  XNN rallied through 2.33 - 2.34, putting the short-term trend to NEUTRAL.

2. XNN then rallied to the "last high" (2.63), prior to the collapse to 1.90, and got as far as 2.61, before pulling back the past two days.

Had it gone through 2.63, and kept rallying, it would have put itself in danger of another Parabolic Rally into the Bearish Wolfe Wave resistance, which probably wouldn't have gone very far, and/or would have ended badly, like the last Parabolic Rally.

Instead, XNN did the smart thing, technically, and backed off from 2.63, establishing a "possible" neckline of a Bullish Inverse H&S Bottom.

3. Thus far, the low of this pullback for a Right Shoulder is 2.34, right at the 2.33-2.34 December lows of what now is the Left Shoulder.

A Right Shoulder "shouldn't" go below the lows of a Left Shoulder.  So far, it hasn't.  That's "constructively bullish."

The 9EMA yesterday was at 2.32396.  The low of 2.34 held just above it.  That's short-term bullish, to re-test that, and hold above it.

2.33-2.34, which "should have been" resistance, has turned into support, as it stands.  That's short-term bullish.

On the rally to 2.61, the 34/55RSIs had a Bullish thrust higher, and yesterday, came back into Bullish Synchronicity.  Yesterday's high of 2.50 becomes the "Puy Pivot," meaning that a print today of 2.511 is a "Buy Signal" from this particular indicator (see next post on the RSIs).

It's always up to us, to look at the chart, and then determine whether or not we wish to take signals from indicators.

If we do wish to take the signal, then we want to structure the trade.

Where is the stop?  Below that 2.33-2.34 Key Support, so 2.32. 

XNN "could" print 2.32, breaking the low of the Left Shoulder, then rally and break out above the pattern, but personally, I generally allow myself to get "suckered" in that kind of Bear Trap situation, and I stop it out at 2.32. 

I don't feel "suckered."  More often than not, if the low of the Left Shoulder gets taken down (2.34-2.33), it isn't a Bullish Inverse H&S, and the stock is going down further.

What is the anticipated gain?  The pattern breakout would put a target of 3.32 IN PLAY. 

If we decide to take the trade, we either can "front-run" it,  meaning go ahead and buy it here at 2.40 for a lower risk entry, or wait for the "Buy Signal" print of 2.51, or wait for the actual breakout, above 2.63-2.61.

Good luck to those of you who have it, or who buy it.  Depending on the BID...ASK near the open, I likely will front-run it.

[Melf Elf]

Never any guarantees on signals from indicators.  The last two attermpts at a rally out of Bullish Synchronicity failed, but we must understand that in the context of what the chart was doing: it was coming off a completed Bearish Wolfe Wave, after a Parabolic Rally.   

The chances of an immediate rally of any substance were seriously injured.

If we get the Buy Signal today, on a print of 2.51, XNN at least has built a Bullish Inverse H&S pattern, and has established support at 2.33-2.34, which "should have been," Key resistance here.

XNN has a much better chance of a breakout and a rally here.

But, again, we always have to decide if we like the risk:reward in the trade.

[Melf Elf]

there is substantial doubt about Xenonics' ability to continue as a going concern.

CURSES!!     

Thank you for that, and applause, njshiva.  I just read that again, after my analysis. I forgot about that.   It sure looks set up for a breakout, but I'll have to pass on that situation.

Sorry, guys. 

[Terliso]

Updated chart:

[Terliso]

Xenonics Receives $1.7 Million Order for Its SuperVision Night Vision Device
Wednesday January 31, 11:30 am ET

CARLSBAD, Calif., Jan. 31 /PRNewswire-FirstCall/ -- XENONICS HOLDINGS, INC. (Amex: XNN - News), a leader in high-intensity illumination and low-light viewing technologies, announced today that it has received a purchase order valued at approximately $1.7 million for its new SuperVision(TM) digital night viewing device from Kaltron Outdoors, Bensenville, Illinois, a leading importer and distributor of premium-grade products for the shooting sports market.



"We are proud to welcome Kaltron Outdoors as an Authorized SuperVision Dealer, and we look forward to working with this premier distributor to build a strong retail platform for our SuperVision products in the shooting sports market," said Cameron Hopkins, president of Xenonics' SuperVision division.

Alan Magerman, Chairman of Xenonics Holdings, added, "We are pleased that Kaltron Outdoors recognized the growth potential of SuperVision even before our national advertising and other marketing programs have been implemented. This significant purchase order reinforces our high expectations for this patented new product."

Bob Trownsell, president of Kaltron Outdoors, said, "Digital technology is the future of night vision, and we believe that SuperVision is the clear technology leader. We are excited to get in on the ground floor of what we believe is a major long-term growth opportunity."

SuperVision is a hand-held, lightweight digital viewing system that uses a sophisticated CCD sensor and digital signal processor to transform ambient light that is invisible to the naked eye into a sharp and clear image on a high resolution display. SuperVision exceeds the performance of current Gen III night vision systems while offering the unparalleled benefit of up to 8x zoom magnification.

[Terliso]

Nice close for Friday's session, closed above resistance

[Terliso]

Xenonics Closes $2 Million Private Placement
Wednesday February 7, 7:30 am ET

CARLSBAD, Calif., Feb. 7 /PRNewswire-FirstCall/ -- XENONICS HOLDINGS, INC. (Amex: XNN - News), a leader in advanced illumination and low-light viewing technologies, announced today that it has closed a private placement with Gemini Master Fund Ltd., San Diego, of 1,000,000 shares of common stock (with A and B warrants) at a price of $2.00 per share for net proceeds of $2,000,000.

"Response to the recent launch of our SuperVision(TM) digital night viewing device has exceeded our expectations, and we are developing potentially significant distribution channels more rapidly than we anticipated," said Cameron Hopkins, president of Xenonics' SuperVision division.

"By increasing our working capital to more than $5,000,000, this transaction positions us to aggressively pursue these growth opportunities," said Chairman Alan Magerman.

[Terliso]

Xenonics Awarded U.S. Patent
Wednesday February 7, 1:10 pm ET
Covers Technology Used in SuperVision Night Vision Products

CARLSBAD, Calif., Feb. 7 /PRNewswire-FirstCall/ -- XENONICS HOLDINGS, INC. (Amex: XNN - News), a leader in advanced illumination and low-light viewing technologies, announced today that the United States Patent and Trademark Office has awarded U.S. Patent No. 7,173,237 to Xenonics. The patent, which has 33 claims, covers the technology behind Xenonics' advanced digital low-light viewing devices, including its SuperVision(TM) line of night vision products. The Company was awarded a Notice of Allowance by the United States Patent and Trademark Office for this patent in October 2006. Foreign patents are pending.


"With more than a dozen patent properties either pending or having already issued, Xenonics is building a strong intellectual property portfolio. This patent award further strengthens our IP position," said Chairman Alan Magerman.

[Terliso]

Nice close!