2024 Charts, page-899

12c support was looking strong, and there's still a lot of depth, but it has been repeatedly tested over the last two months or so. The excitement over the ATL funding prevented it from failing, but that was barely a blip on the chart (indicating that even with a significantly positive announcement there's little buying interest) and we saw the price snap right back to testing 12c. There's weak support at 11c, 10c should put up some support, below that 8.6c. If that fails it's a new multi year low, hold on to your seat for a bumpy ride, but the market cap would be pretty low so that should be avoided unless we see more dilution in the near future...

Volatility indicators are suggesting a large move is coming and multiple indicators suggest it's probably going to be negative. If production ramp up actually happens I have no doubt this will all be prevented and we'll see an immediate flip to a positive outlook, but currently on the TA it's clearly looking negative, and good news is needed imminently to avoid 12c support failing. No imminent news will probably see it drop to 10-11c, an update which shows no significant progress will likely result in 10c failing. If we do see an increase in production it'll be very interesting (and yes, I'll probably be buying).

I know this won't be a popular post, but the chart is speaking very clearly right now, so it will be interesting to see how people try to shoot it down, which I know they'll want to.