Chart update, page-77

Chart update. ARV broke out of the longer term 40c resistance area and bolted up to near 60c into an over bought status. Since then the stock has come back to test prior resistance as support in this 40c zone. This is a positive sign for a long term uptrend to continue - digesting gains and testing supply/demand before the next leg. Declining volume over this recent retest is also a positive sign that supply is drying up - people are not prepared to sell lower. What we want to see now is ARV hold this 20 day moving average (green line), buyers come back in and move up the share price up and out for the next leg from here - with some lofty targets being 1st test of mid 60s and then mid-term $1.75 area. This may occur in the coming day/s or take the stock may need to form a base and settle further. A close below the 20MA and/or recent low on the 16th would be confirmation of a deeper pullback and not positive for upward momentum.