Secure Point Technologies Inc (fka IMSCQ)

[Imperial Whazoo]

Well the 200 day held. We'll just have to see on Monday. Down day, but not a dump of shares.

The top/turn that happened on 1/22 showed 1,157,711 volume and if you subscribe to the "Bookend" theory, it painted 1,061,188 today at the other "bookend".

Did a bookended move just complete?

Hmmmm....

Also, lets use Fibs, like the MM trading desks do.

Here are the 4 primary retraces:
382: 1.39
500: 1.32
618: 1.24
786: 1.13

If it is doing an upside Gartley Butterfly, it will touch the 786 and then the setup would be a move to a Fib 1270 level. At least.

The 1270 level is 1.82.

So go look at the historical highs. Back on June 29,2012, it reached 1.84, and on 9/25, it reached 1.75

So, it may be painting out a Gartley (upleg range base, 618 leg, 382 leg, 786 leg and then 1270 leg). Gartleys are rare, though.

Anyway, the confluences are:

the Fib 500 pullback (1.32) & the 20 day MA (1.32)
and the Fib 618 (1.24) & the 200 day (1.23).

If it breaks down, I look for the 1.17 to 1.13, but breaking a 200 day is hard, especially given the 500% gain in revs.

If it doesn't break down, the longer it hovers here, the more strength that depicts in the 200 day/618 Fib confluence.

And one more analytical tool to use: a rising support line.

Take a line and stretch it across these 4 lows:
11/08/12 (.75)
12/28/12 (1.00)
01/15/13 (1.10)
01/30/13 (1.16)

A perfect fit using an upward sloping support line.

And, based on this, if it does do a Monday headfake, it will run into support using this line at 1.17, which BTW fails to break the lows of 01/29 & 01/30. Not closing below either of these will matter bigtime. They will have been said to have held.

I'd say we are about as low as she is going to go.... unless they flood the market with dumpable shares to finance things, but they will not do that, IMHO.

If they issue shares, my bet is that, given their prospects (500% revs & TSA approval), they will only do restricteds/warrants/preferreds. Nothing that will add volitile shares to the trading volume.

Oh and one more chart thingy: Look at the day of the TSA news back on 01/15/13. It was a big ass down candle. Closed at the LOD.

Look at the next day.... it took off bigtime.

So today is the day they released the 500% rev increase news. Big ass down candle, just like the reaction to the good TSA news. Good news accompanied by a professional takedown that allowed the professionals to load up on cheapies.

What say people about whether lightening will strike twice here?

If it sees a day on Monday like it did on 01/16, today let the pros in and next week will let them take it up, & make money on the takedown.

We'll just have to wait and see.

Peace.

Imperial Whazoo