World Surveillance Group Inc (fka WSGI)

[techisbest]

You call yourself a TA board and now TA is useless because of the news? Give me a break.

TA must still be used to figure out what the price will do next.

TA shows that the price rise on Friday was haulted at the prior high and finished the day on the downward trendline off that high (the shallow trendline before the bottom fell out).

That trendline can also be extended to the high in the $5.00 range of last February.

So it is that downward trendline and the high of last year that is in play. Closing above the trendline is good. Closing above last year's high is better.

The smart money will continue to evaluate what this deal means for GTE in the short term. Already investors are realizing that there will not be much profit until after the buildout of the network. And until there is money in the bank to start the project it is still counting unhatched eggs to see the $600 million as a sure thing.

I expect some initial euphoria by the starry eyed (plenty on this board). Then the market will settle this into a pattern either above or below the marks mentioned earlier. That will determine which way the price movement will go in the intermediate term.

It will be very interesting to see if the $5.00 mark can be broken and held. I'm thinking it will take more positive news, on either the Russian deal or the Stratellite progress, for that to happen. But the moves between where the price stands and $5.00 could be volatile once $4.00 holds.

Right now, the chart still says consolidation below $4.00.

http://stockcharts.com/def/servlet/SC.web?c=GTE,uu[m,a]daclyyay[de][pb50!b200][vc60][iUb14!La12,26,9...

Sure would be nice to see this board remain a bit more focused on TA.