The Play Of The Day
10-11-99 01:01 EST.
Good Morning Stock Fans!
Today's Play of The Day is: Key Note Systems (NASDAQ:KEYN)
About: Key Note Systems
Keynote Systems (NASDAQ:KEYN) provides Internet performance measurement and diagnostic services that enable electronic commerce, or e-commerce, companies to measure, assure and improve the quality of service of their web sites. Keynote Systems (NASDAQ:KEYN) is based in San Mateo, California with a web site at http://www.keynote.com.
This recent IPO went public on Friday, September 24, 1999, offering 4 million shares underwritten by BancBoston, Robert Stephens at $14.00 a share. Over its first two days of trading (NASDAQ:KEYN) would trade as high as $33.3750 as it more then doubled. Between September 28 and 30 its shares would trade lower until they reached a low $23.50 a share on Friday, October 1. Since bouncing off of $23.50 (NASDAQ:KEYN) has traded higher everyday. This past Friday shares achieved a new high as they would go as high as $38.00 before closing at $35.50 per share.
Many NASDAQ IPO's that get run up over their first few days of trading like (NASDAQ:KEYN) did never are able to come back and reach that run up high again, much less go through it as shares of Key Note Systems (NASDAQ:KEYN) have. The service that (NASDAQ:KEYN) provides is unique, and with it being in the hot area of e-Commerce besides, this stock is poised to go up from here. I am looking for (NASDAQ:KEYN) to hold their current support of $33.3750. With its quiet period ending on Monday, October 25 shares of (NASDAQ:KEYN) should receive much more attention over the next week of trading.
Buy Area: $34.93750- $35.93750
Sell Stop: $32.75
TARGET: $43.00 - 49.00 ( 5 to 10 trading day!)
Be sure to check your mail for an update on this Play following today's trading day!
ATTENTION STOCK FANS!
My LIVE TRADING ROOM is now being powered by CHAT SPACE. After testing it all weekend for speed and accuracy. We will begin using it in the AM. Be sure to come by my LIVE TRADING ROOM and check my new chat out. If you are impressed with my stock plays you will not believe what goes on in my LIVE TRADING ROOM! GET IN THE GAME!
Have a great day!
More to come...