Here is both the daily and hourly from yesterday (May 1st) -...

Here is both the daily and hourly from yesterday (May 1st) - until then there looked to be reasonable support sitting at 4.3 cents since mid March. Some solid selling kicked in during the 12:00 to 13:00 period yesterday with some 8 million out of the the daily turover of 24 million. Looked to me like someone was offloading a parcel and it probably kicked in some stoploss selling once 4.3 cents was breached and the selling bottomed at 4 cents - note the big red candle sitting on 4 cents in the hourly.

In the last hour the buyers came back which was good. Support now sitting at 4 cents and it remains to be seen if the seller/s from yesterday has/have run out of puff or not. The long tailed candle on the daily yesterday looks a bit bullish but I think the market conditions for the resource small caps suggest that consolidation is perhaps more likely at the moment than any serious upward momentum developing but really it is impossible to predict.

Daily


Hourly