It reached a double bottom at 30 cents in February. Its now in an upwards trending channel. It has tried, and failed, to break resistance once, however, price has now found some support at 40 cents, with 5 daily lows or highs at that price. The stochastic has turned down, however it has started to lose momentum and looks like it may cross back upwards. I am thinking an upwards break of channel is possible soon.
Weekly-
Weekly is also in a channel. There is also some overhead resistance left over from last year. These two resistance lines intersect at 60 cents, so this is likely a major resistance support. The stochastic has managed to break resistance and turn up. This signals at least a likely rally to 60 cents.
Monthly-
Monthly stochastic is very oversold, however it has not turned up yet.
Overall-
Daily support at around 40 cents, with a possible move to the top of the channel. The weekly is showing a good chance of a rally too 60 cents in the next few weeks, and the monthly is showing very oversold. This looks to be a possible good short term trade, aswell as a good long term hold.
