Let's see if the "Island" Biotrader was talking about yesterday operates in complete reverse.
We have a gap down since the CR and now 2 days consolidation at this level between 86 and 81 cents
A gap back up from here will leave an "Island" behind, effectively rejecting these lower prices.
The gap doesn't need to be large, just a couple of cents.
A rejection here will mean a higher double bottom has been confirmed on the chart and an "Island" (rejection of price) has been left behind.
We had a 2 week rally from these levels in late March and it is now 7 weeks back down to the same level.
2 up / 7 d. Price is not going down IMO.
Remember price goes up in steps and down on an elevator.
This so far is the opposite (makes sense given our fundamentals).
Will assay results be the impetus for a rejection of these lower prices?? Who knows??
Not Advice. DYOR.
Let's see if the "Island" Biotrader was talking about yesterday...
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