Hard to tell at this stage, could be a high volume backtest of support now resistance that's sitting at 59 cents, the price has only really now made it back into the downtrend channel. There's a whole host of reasons why buying atm is a gamble but depends on ur risk appetite. Me I'd rather wait a bit and see what pans out with all this high volume. High volume means activity and specifically the buying or selling by the market professionals. How do you know its not shorts loading up ready for a further drop? Best to wait and see what they are upto I think.
Will put a chart up later.
Cheers
BBG Price at posting:
58.0¢ Sentiment: None Disclosure: Not Held