lack of news keeps downtrend in place., page-5

In my opinion both charting points and news are valid catalysts to SP movement. A speculative stock in early stages of development usually has no earnings. If it's not making money it is usually spending it which is normal during establishment phase. In the absence of an established asset base and quality of earnings (most speculative stocks) regular news flow is more important. Without it SP will normally migrate to its previous support level where it usually has a better chance of finding a base. Generally 1.) No news and it normally slowly migrates to previous support. 2.) Good news and it wont get there. 3.) Bad news and it will get there quicker in the first instance. I think double tops etc are valid resistance points. Also trending channels and previous support levels. Notwithstanding changes in commodities prices generally the rerating of a company up or down will almost always come via a news announcment. My opinion only. DYOR