My amateur reading of the chart is as follows:
- AO and MACD are slightly negative. This isn't showing much as volume has been low for a while, just indicates a general trend downwards.
- RSI meandering along in the middle, neither overbought nor oversold.
- Only real thing of significance is the bollinger bands are getting very narrow, indicating a possible near breakout, either up or down.
- This, combined with expected news soon, makes me expect that if the news is good and the breakout is the same size as the one back in Feb, I see a target price of 9.6c.
- If news is bad, back down to around the 6c level.
Interested to hear feedback from the more experienced chartists amongst you.
