"if it can clear the old high than v good. last time it rejected the $1 quite strongly. This time looks better but we shall see..."
Last time it ran very hard from around 40c to $1.04 in around 3 months, based on that strong move it was necessary for the sp to take a breather, that's why it re traced from 1.04- 70.5c. This time round it looks like re testing the highs, with a strong chance of a break out. I will be seeing how the SP acts around $1, could quite possibly become a strong support level...
Interestingly the previous consolidation from April - August 2013 lasted 4 months, the current consolidation is also around that amount.
Just goes to show that when ever a stock has a strong move it often needs time to catch up with price.
dyor
ICQ Price at posting:
97.0¢ Sentiment: LT Buy Disclosure: Held
