1PG Chart, page-24

I am not overly technical, but making a lower low and a lower high particularly on a weekly chart is typically very bearish.

It has closed at 1.93 versus the previous closing low of 1.94. That is not enough to say it has really broken, but tomorrow's price action will be very important and where it closes on Friday i.e. you don't want it to close below 1.94 on Friday.

If there is a breakdown, the next major support level is around $1.35.

To be fair, I did say this about the $2-$2-20 support, which it briefly broke around 10 days ago, but then saw a very sharp rally (which was probably news driven, given the company release shortly after that).

Probably also worth noting:

- today's fall was on reasonably high volume at c.2m shares - 2.5x the average of the past 3 months
- you can't blame a weak market today given it was up c.1% today
- the disclosed short interest hasn't changed much in the past week - currently 4.4% according to Bloomberg i.e. still fairly low