Good stuff P$Ychick
Here is my take on things & what happened during the week.
Monday. A slow day with the sp reflecting the previous Fridays range but closed lower on low volume.
Tue. A larger volume & trading range day resulting in the sp falling and testing $0.175. Had all the hallmarks of an attempted shakeout I think. I don't know what volume was traded at the lows but I suspect it wasn't much & that is probably what made the divergence indicator turn up.
Despite the increase in volume & a close at the low the early momentum indicator was showing a divergence had formed by the close of that day. It had already turned up on the 2 Oct. I will be watching that indicator like a hawk from now on.
Wed. A small trading range day & a retest of Tues. low at $0.175 & a close above the low. The momentum indicator was rising & still indicating a divergence.
Thu. A higher open, a sharp rally with larger volume, the sp going thru two resistance levels before retreating from a third at $0.22 then closing above the mid box range of $0.205.
Frid. Retest the box top at $0.235 & retreated to close down on the open but still higher from the previous day. Volume was still reasonably strong. No announcement or reason for the spike.
What we didn’t get this week & is still possible I suppose is a retest of the breakout point for this box at $0.165. This would fulfill the previous patterns of the boxes as in the past but I doubt if it will happen every time maybe this will be one of those times.
The daily divergence indicator still appears to be heading up quite strongly but this can change very quickly. A down day Monday will reverse it.
The daily chart pattern had previously formed a flag which was convincingly broken on Thu. with higher volume.
The red medium & blue short term uptrend lines drawn have historically shown areas were the sp will retreat from or rally off in a similar fashion that horizontal support / resistance lines do. Not always of course but often enough to take notice. This week appears to have been one of those times.
This is possibly easier to see in the inverted form on the daily chart which just now looks to me like we are about to rally (retrace) to $0.20 -$0.205.
That is aprox. 50% retracement of this rally & would be a healthy pull back I think.
The weekly chart looks very interesting atm. I was looking for a Rising three candle pattern to form & we almost had it during the day but it has not formed. What I see though is a breakout of a rising triangle / penant which is equally as good. That would give us a similar target of $0.36 which is in line with your and others targets mentioned during the week.
All in all the sp movement this week & the chart look very promising.
Regardless of whether we get an announcement or not this would have to be one of the best low risk trading stocks around atm and with the best prospects. If you get a trade or two wrong & have to sit for a while I cant really see much stress in that.
The ATR (trading range) for the last 7 weeks has risen from $0.03 to $0.043. If we get that average this coming week in the right direction then we just may get into the next higher box & see some new highs.
This week I think we may see a pull back early in the week but I would expect $0.205 to hold & ideally would like to see another big green candle with the highs at or above the previous high of $0.26 maybe up to $0.28 and a close in a higher new box.
I cant wait to see what will happen when or if we get an announcement saying they have signed a deal with a mobile phone manufacturer or something similar.
Hang in there its coming.
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