as requested newby, its just a quick analysis on purely a charting perspective. just my opinion, i hope the stock turns back up for you.
from memory you do tin in tassie.
there are patterns everywhere and warrants caution.
i really dont like the downtrend from a long a couple of years ago, that down trend channel seems to go on an on. it hasnt been broken yet and cross roads are due again pretty soon.
There is no clear direction here and it would take something significant to change this range in the next few weeks. id be on the sidelines for this one for now and would wait for a proper signal. if your want to risk your money, buy on the bottom of symmetrical triangle formation, if it fails get out. or buy on the breakout of the triangle.
The potential symmetrical triangle forming is somewhat positive and it appears that it seems most likely to play out in my eyes. i like this triangle best because it captures what seems like a slightly dipping trend line support in november and january that was subsequently broken when it gapped down in price on the 27th of feb.
its no fluke the gap corresponds with that support line, its the start of a pattern, you should follow it now.
the 27th feb starts your count - the first gap
11 april is the day of gap 2 in price.
the low is set on march 21 which happens to be a perfect day 22 of day 44 of the 2 gaps. the pattern has somewhat shown itself for the first time.
to be a symmetrical triangle, it needs to be just that! perfectly mirrored.
so what happened on april 15 that says this is a triangle?
it gapped up and opened up at 25c and closed @ 28.5c
25c is the .618 fib point of the fall from 32.5 to 20.5
28.5c is the .382 fib point
today its closed @ 26.5 meaning it has opened on the low, closed high and closed middle at all 3 levels in 3 days.
the 50dma is 25c.
the move up and gap in price has cleared this price well suggesting it should touch the 100dma now.
the 100dma is eerily sitting on the top of the triangle formation @ 30c.
if also forms the basis for a new rising sideways channel that may continue one we leave the triangle formation.
id personally sell into this top of the triangle and wait for the next signal.
will the price test the gap at 23-25c? or will it leave it behind
to warrant a gap like that, the news that came on the 15th had to have been good.
if your hell bent on sitting on it and the sideways channel plays out, you have a target at 44c
id suggest you will see 30c within the next 3 trading days and then a swift pullback to the next point in the triangle at around 24c
id need more time to really go in detail.
good luck!
(20min delay)