Watch Minorplanet SYS(MPS)…

Riz

Experienced member
1,266 5
In Feb. last year MPS was around 900..like most other tech stocks however it collapsed by April to around 450..ever since it traded between 700 and 450 till it reached 420 early in January forming year low..

Minorplanet Systems is the leading supplier of satellite-based vehicle fleet tracking systems.. MPS’ VMI technology enables owners of commercial vehicle fleets to know where their vehicles are and where they've been…

Note the 3 covering brokers/analysts having MPS as a Strong Buy recently…

Also tipped in Share Magazine of 18th Jan. saying “....Analysts are expected to upgrade their profit forecasts for the company which is expected to graduate to a full listing in the spring…”

On 11 January 2001 MPS signed a letter of understanding with @ Track Communications a large US provider of High Teck mobile data. @Track will have rights to Market, resell,distribute and operate MPS tech and sevices throughout N.America. MPS will aquire a stake in the US company…

Michael Abrahams, Minorplanet Chairman, said: "...For some time we have viewed the United States market as the greatest single market opportunity today for
Minorplanet's VMI(TM) technology and products. Our proposed alliance with @track will provide us with an excellent opportunity to enter the US market and take advantage of @Track's relationships with the US wireless service providers and the company's nationwide sales, customer service and installation infrastructure.'

This deal saw MPS share price climb up by +115 or over 25% to 535 in a short time to the level from which it started retracing, with the help of current decline in tech stocks to 492.5. Price still heading down and needs to form a proper bottom..somewhere between 480-460 seem to be alternative support levels..from which it is widely beleieved to start another aggressive uptrend..this should of course be in conjuction with techs’ slide in general to bottom out properly…worth watching..

(no financial advice intended)

rizgar
 

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