Replies to post #9438 on Bancorp International Group Inc (fka BCIT)

[lakers17]

Fringe well this week we will find out if Megas is on the up and up. There better be news to let us know this is for real. No one really knows Megas as he sits out of the country.

[BoomTime]

Fringe - Just wondering the MA89, what signifance does it hold for you? Nice chart by the way!

Thanks in advance

BoomTime

[Joda]

fringe dude,

Like most others here I'm humbled and impressed with your postings.

More to it though, I'm proud of you dude.

You're a Canuck living within a 100 clicks of my own house. (BTW when my kids are grown, we'll probably be moving closer to where you are located, beautiful country man)

I'm originally from Montreal, lived in T.O. since '84, speak both french and english.

There is no doubt that Americans and Canadians are first cousins.
We are all North Americans!

But am still proud when I see one of my own, held in high esteem, on a North American basis.

Good on ya dude, maybe we'll have lunch some time or something.

[agapespreader]

Great post, Fringe, as always! I believe this stock has A LOT more upside to it over the coming weeks. It's good to see your technical analysis to help justify that.

[lollybella]

then .08 is nothing; it should run to dollars :)
The fun just beginning; they will try to shake the tree HARD and FURIOUSLY. Take your profits when you see fit and don't cry if it continues to fly.

[fringe_remnant]

Joining Us?

Welcome! This note assumes that you have referred to the DD on the home page of this board and that you are ready to proceed further.

The stock is on a tear, as you know. It is moving back to its previous levels of a 0.085 in May of this year. All this is on speculation of news regarding the rebuilding of the stock in the eyes of the SEC, the substantiation of its legitimate 4.8MM O/S count and forcing a buyback of the illegitimate shares on the market, and the possibility of an R/M into a clean shell which could provide a vehicle for Thomas Megas's $60MM European real estate holdings as a public venture on the world's premier stock exchange. PR's from Megas' office are the source for these expectations.

The accompanying chart puts some perspective on where the stock stands in all of this, technically speaking...



The ascending channel is going forward intact, hitting resistance now at MA89, but could bump past that easily on any volume.

The stock is technically RSI and Stochastically overbought, and has purportedly completed the leg up when adding in the difference between the high and low of the last run and adding it to the bottom of the breakout of this run's PPS, before the gap up. However, nobody, but nobody sold this high on Friday. The MM's ticked it up to the end, glad to let this thing run.

Technically overbought does not qualify a retrace, nor does a mathematical completion of a continuation pattern. A technically overbought stock can move like a shorted small float stock under any volume buying pressure.

Interestingly enough, from the beginning of the gap up, the stock has only done two white candles. If all candles before that were part of the consolidation of the Pregnant Harami behind the long candle of the first run, the counting of white candles might be considered from this point. This may or may not hold water as far as candle theory goes, but if it does it places the reach up around 0.016 before any consolidation.

It is important to note that Ultimate Oscillator has not topped out and has headroom for the continuation of this run. Given that, a small consolidation of one or two days sometime this week, whether tomorrow, Tuesday, or Wednesday, bodes well for the end of the five day session taking the stock to 0.02 or beyond.

The length and depth of consolidation as a function of the span of a run is worth noting, and small, continuous consolidations as a stock runs are extremely healthy and welcome, avoiding long and difficult pullbacks.

The MM is managing this stock's ascendance well, IMHO.

We will see tomorrow whether it continues on for the day, or begins a small burping session from there. The hourly chart on Friday afternoon was turning down, others (5minute, 15minute) turning up.... whether that carries through Monday or not will depend on buying/selling pressure.

All points of view, and all contrarian banter here is what matters to me as an Ihub member, on this board. Feel free to add to the melee!

fringe