under the radar small caps , page-14

people are queing to get out because we are failing to break out of the major long-term downtrend and are touching up on its upper channel. its a long long way down from here if the stock drops below 21-22c. the lower end of this downtrend is in the low to mid teens. its pretty clear on the daily and weekly charts. just look at the sept-nov 2012 period and what followed after that sideways consolodation couldn't hold!

and with that sellside, i think it would be a BIG downday through the short-term support of 22c

we either stay sideways and convincingly get out of the downtrend or we break downward sharply imo. of course a nice announcement could get us out of the short-term sideways movement and confirm that we were out of the downtrend a while ago and now moving upward.

in this market, i think the downside is more likely. i like the stock and the drilling prospects but i don't think the stage is set for a run-up just yet.