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SUZEQ,

I will try to address the issues raised in your post.

1. I am using BulCharts software, which is very and very cheap software. However all my points below will be based only on pure SP and volume figures.

2. Basically all indicators are derived from SP (4 values for each time segment and volume) so basically I am using candle stick patterns as well as resistance/support level lines.

3. With a relatively large scale of price data the corresponding charts must be drawn in a semi-log scale from mathematical point of view.

4. If you draw a weekly candlestick chart for the stock then you will find that for the past almost 2.5 months there has been only a single white (rising) candle, but it was within a downtrend started with a sharp fall in the middle of April.

5. I hope that this week weekly candle will be white and the closing price tomorrow will be at least not below 43.5c. Then the last 3 weekly candles will form a so called weekly pivot point.

6. Todays fall in the SP was expected, as from the chart it is clear that 45c should be a resistance level. However todays fall with a relatively small volume is a positive sign. You may say that a couple of factors have impact on this as oil price rise overnight and positive sentiment on the market. This is true.

7. The best scenario for further SP movement up would be a dayly white candle crossing 45c with a relatively large volume of at least 1.5mln. I would like to note that yesterday’s volume was not very impressive.

8. The main reasons for me to jump in the stock (I monitored it for at least a couple of months) were:
- strong closing on 29 July and
- strong buying without any resistance yesterday, so before yesterday’s closing I decided to buy.