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Fonar Corp. Message Board

  • Harus Harus Oct 18, 2002 11:08 PM Flag

    Technical Analysis

    Any expert here ? Looks to me Fonr has turn around, we just started a new uptrend after testing bottom.

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    • ***IMHO***

      I don't consider myself an expert technical analyst but I am probably slightly above average. AT this point the chart seems to indicate that a nice flat base has formed just above a dollar. The trend is up. How fast it moves will depend on the magnitude of future news releases. Great news would be a GE buyout and that may send it to the $5 or $7 range which is what I believe GE would offer at this point. That is a real optimistic scenario. Chances are that improved earnings/losses will be announced around Nov. 15 followed by RSNA the first week of December. This should be enough to cause the stock to continue moving higher at a steady rate back to the $2.00 range in the next month or so. Between now and then there will be more press releases announcing a couple more sales and installations. The weight bearing extremity MRI will probably be revealed at RSNA and maybe the SUMRI with a more powerful magnet. The OR360 will probably be on display. I would expect the mobile SUMRI to be there. I would anticipate somebody from Aberdeen, Scottland will have something to say about what they are doing with the SUMRI. All of this combined with the nice base the chart has formed point towards the stock returning to the $2.00 range very soon. Almost forgot. Fonar is supposed to have boosted production capabilities to between 4 and 6 SUMRIs a month by the end of October. If they reach that goal that would be more good news. The end of this year should shape up to be a good one for patient FONR stock holders. Another deal with TW will spoil our Christmas though.

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