My fellow traders..Depicted on the weekly is a very large rectangle that spans back to 2009..the spread between the highest point and lowest point(excluding the over shoot in oct/09) is 5 cents..projected upwards from the high point which is major resistance(.073) gives us a ceiling of .12cents.. Now, for the important stuff..We NEED to get above .073 and .075 on healthy volume for the analysis above to be valid..A break and hold will ensue higher prices.. The volume the last few weeks is telling me that this might be the case..BUT lets assume we do not break today..i would expect a decrease in volume and a few days of foundation building..before we retest and break the 3 year ceiling... To conclude over the decades of trading i have come to realise that the longer a stock sleeps under a yearly ceiling the more powerful the move that will ensue...I call them sleepers..
Please NOTE that the above is only the view of martis..
CGM Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
