re: Ann: Recommendation in favour of planning...
From a technical point of view today's price action was pretty textbook stuff yeah?
It started at and was capped by the opening high set back on Jan 25th at 10.5c, a fairly strong resistance level. Could be some people who bought back then were also looking to get out at even-money?
It then went generally south for the day then bounced off a strong support level and trend line at 8.5c to finish at 8.9c. This means a higher high than the last high at 8.5c (close of 7.9) remains intact.
Also, the RSI ended the day back above 50 after spending most of the day well below it which I think is a good sign?
I'm still learning charting but I would expect a re-test of the 10.5c level in the next few days as we approach the news everyone wants. 12.5c would be my next target.
Of course with this news looming, news we have been waiting a long time for, exactly what price to expect is hard to say in the ST.
Anyone with greater TA-skills want to chip in their two cents worth too? :)
SGZ Price at posting:
6.6¢ Sentiment: LT Buy Disclosure: Held
