Also noticed this retest of 4.7, incredibly important trading event for SAS. Like you said, if we break I could see us dropping to 3.5c - 3.8c, otherwise we would bounce back to 6c.
From my look at the chart, without any fundamental bias, I would say we are more likely to bounce to 6c. I say this because both stoch RSI and RSI indicators lean towards showing heavily oversold. My estimation would be a retrace back towards 6c, but it will be very tough to break that resistance.
My understanding towards a bearish pattern would be purely from the lack of volume AND the fact the RSI has been showing oversold now since about May 18. Something to consider if you are looking for an entry on this, wait for confirmation of a bounce I'd say. You might pay a few cents higher but long term wouldn't hurt you.
**Not financial advice, DYOR.**
