Short Term Trading Week Starting: 14 May, page-162

STTCOMP 4CE, TA Long

(ASX:FORCE COMMODITIES LTD )
SP: 6.1c
MC: $25.6mil
Cash: $3.48mil
Shares: 419,915,868

Daily Chart -  Trend Reversal

- Similar to AVZ, 4CE has continued on long term downtrend since January highs.
- SP dipped slightly below a long term support of 6c before being (barely..) supported by buyers and pushed above.
- A 'gap up' from 5c to 6c still remains to be completely closed..
- RSI or RSI not really showing any divergence but have both turned up from their lows.
-MACD histogram getting smaller with with the downtrend and MACD about to cross.

Selling volume seems to be all but exhausted so we may be seeing a reversal in a trend here also.
(although buyers not really stepping in here either..)

News flow included a drilling (or location of update expected very soon.
I believe many are watching and sitting on the sidelines as positive update should see the new uptrend supported and a negatively taken announcement could/would see the gap completely closed to 5c



Selling volume decreasing