Slowly Creeping up North, page-14

Bit of a technical battle on at the moment albeit in the micro scale in respect of volume/value.
Retreated after touching the 200day moving average (the long term holders sentiment indicator) and popping above the down trend from 2.7 cents Sep last year.

Bulls trying to defend at 1 cent to give it a chance to break through and form that cup as part of a long term up trend.

The same pull back point may be a short term double top from a bears perspective and they appear to be selling to force under 1 cent with the low in sight.

The victor of this tussle may tell us what's happening behind the scene with the corporate play. I daresay a failure at this point is going to be unattractive to Jacana holders given that the acquisition is priced at 1 cents for STA. They don't vote until into September, if STA is sitting under 1 cent for any length of time leading up then that will be terrible for sentiment - a Jacana shareholder might vote yes to get STA shares to cash out of Jacana but then be inclined to dump on market. On charting basis Richard Hill needs to get this trading and holding well above 1 cent.