NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

ss9173:

There are all kinds of points down in here to consider as possible 'breakout' points to buy on, keeping in mind a tight mental stop loss might be a good idea.

Right now .10 is a good short term breakout point IMHO, being part of that ascending triangle pattern I just mentioned. Above that, yes, .12 is some slightly older support-turned-resistance which would be yet another point to buy, fitting that old tried-and-true method of averaging up (MUCH better than averaging down like many of us have done in this particular stock).

Above that there is strong support-turned-resistance at .15, and a breakout-on-volume above that point I would consider another good add point.

I gambled and bought some a couple of times on the way back up from .06x, although there wasn't any real reason to do that other than thinking .06x had finally virtually hit an old downtrendline I drew in on the weekly chart months ago. My plan going forward is to add on breakouts above .10, .12 and .15, if and when they occur.

Going back further in the chart (see below), .20, .25 and .425 represent similar opportunities. If Neomedia is going to be the killer app - powerhouse that some of us hope, buying at any or all of those points would be profitable at some point down the road. Hopefully we'll get the opportunity to find out.

All JMHO -jonesie