any one good at charts???, page-4

This stock is well and truely in a down trend.

There is still plenty of downward momentum.

On a short term basis it is over sold and could rebound to the 40cent range.This is a 61.8% retracement of the short term range from 46cents.

If it gets back up to the 40cent level it will probably come under some pressure as this is where the last couple of bottoms were.Old bottoms become new tops.

Today is an interesting day as the price has dropped pretty quickly and also rebounded just as quickly leaving a tail on the charts.

Wait to see if the stock closes at 35 or above then you may have a short term bounce but the long term trend is down and as they say the trend is your friend.

This stock will test these lower levels before the long term trend turns.