Gediminas Jasionis

View Systems, Inc. (OTCBB: VSYM) Rally Not Over Yet?

by Gediminas Jasionis November 22, 2009
View_Systems.JPGView Systems, Inc. (OTCBB: VSYM) gave in to the overall market weakness on Friday despite the company's announcement of rather large ViewScan unit order back on Thursday. Investors were quick to take their profits after initial accumulation as in a correcting market large price moves aren't likely to happen on these kinds of announcements.

The news stated United Arab Emirates company Belcom has ordered 40 ViewScan units. The order should be shipped by January 2010. Payment issues were not discussed in the initial press release.

By the looks of it we should still be getting some upward price action on Monday. The 30% correction on Friday was a natural thing to happen and there is a chance of some price appreciation happening on Monday. The assumption is based on technical indicators going wild with the initial jump in price as well as news being accepted as sound and capable of igniting large price movements.

Reaching somewhere near the $0.067 level, where the price rally originally stopped on Thursday, is not out of question. However the situation calls for extreme caution as there is a high change of price moving further down. The coming couple days will be crucial in determining the outcome but large gains on this one are already out of the question at this point.

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