chart 10/10/12, page-2

Couldnt agree more Tonga. Perfect ABC set-up and perhaps wave 3 of a 5 wave cycle - for the elliot wave theorists out there. Right now it just doesnt feel like it can get back to 20 cents though. Given we are only two weeks away from some very important news for the company I am not sure we can see a 20% move lower ? stranger things have happened but at the moment any down or flat days are not attracting any volume at all which suggests (to me) that it will be hard to get it to drop 20% in that small space of time. I am thinking 22 cents may be the pullback area at worst. And i think that would only occur due to the broader index getting hit from some ordinary offshore news (which is entirely possible in this environment).
Anyway , I have been wrong before but agree that RSI's and the like look a bit stretched and it needs a breather to get the technicals back into more value territory.
It would be nice to be proven wrong on that too ! IMO, DYOR