American Scientific Resources (ASFX)

[Oz the OK]

There has been, however, considerable selling pressure.

Where do you see this "considerable selling pressure"? Here's the Friday close for the past 5 weeks -

04/30 - .0114
05/07 - .0108
05/14 - .0117
05/21 - .0115
05/28 - .0107


That's just an 8 tick weekly trading/closing range on a stock that has been moving sideways the past month. For my past 35 years, I've learned a sideways price movement is usually healthy...it's a neutral balance between the Bears and the Bulls and an accumulation period. To determine where the price goes after an accumulation period, you then use a long term chart. On a long term chart, this stock is trending upwards...all anyone needs to do is just look at the 200 day Moving Average to see that; or merely compare where the stock price was a year ago.

Are you implying the selling pressure is from the mid March highs? If so, that stopped at the end of April, and this current accumulation period is higher than the last accumulation period in the .0080's in February. It's a step UP in price between accumulation periods because the selling pressure wasn't as strong as the buying pressure that took the price up from the last accumulation period...again, a long term bullish sign.

I don't see any selling pressure currently, nor do I see any buying pressure. I see a sideways trading period occurring, with about a 20-25 pt trading range.