Update to 4DS Weekly Chart: Well there you go, the SP was...

Update to 4DS Weekly Chart:

Well there you go, the SP was looking as if if wanted to go higher, we get some new news which I personally didn’t think was all that bad, and the SP plunges 16%. Nothing all that unusual for this speculative highly volatile stock. The weekly long term trend support chart is shown below. The previously identified 5.5c support level was blown away and a very significant attack was made on the long term uptrend support line, but the Close for the week was above this line. For me this uptrend support is still in play. With all TA indicators, after a signal I expect to see price action confirmation in a following period. If we get one or more weekly Closes below the green line then we can conclude that this up trend support is no longer in play. Like most TA’s when we find an SP falling the first thing we do is look for levels where support may come into play. The new horizontal pink lines on the chart show what I believe may be support on the downside. They were determined using a daily chart so I’ll leave my discussion re these levels to the following daily chart analysis.

Update to 4DS Daily Multiple Moving Averages Chart:

The Red MMAs attempt to break above the Blue MMAs failed quite spectacularly. From a technical point of view this confirms the current trend of the SP which is down. The Red MMA’s move down is what I would consider to be overextended and hence I would expect, or should I say hope, the SP to move back to the 5.5c or above level over the coming weeks.

Update to 4DS Daily Momentum Chart:

The Daily Momentum chart is shown below. Both the shorter time period Stochastic and the WaveTrend Momentum indicators have once again turned down, with the Stochastic now in the oversold region. One encouraging observation is that the WaveTrend momentum indicator is still heading up. A bounce up of this momentum indicator over the next week would result in another positive divergence signal. This is where these momentum indicators provide the most value and do in many cases provide a good indication of the future direction of an SP. I’ve placed some blue arrows on the chart that identify the potential current divergence and the most recent positive divergence. The new horizontal pink support level lines on the chart have been determined from prior high volume anchor zone levels. The support levels on the downside for me are at 5.2c, 4.9c, and then 4.4c.

All IMO of course – until next time good luck everyone.

p.s. A big thanks to all those Posters who attended the AGM and shared their observations and views. My interpretation of what was posted is that we are or should all be feeling very positive and looking forward to some good news in 2020. It is most appreciated. So refreshing too, compared to some of the unintelligible drivel we get on some of these threads. I think you all know who I’m talking about.