dpa to b2 B2
As soon as I opened this chart, I thought "looks very similar to RRS"
A chart that has 13 down days in a row, certainly doesnt ring out "buy" to me.
What it does seem to be doing, however, is forming a base. Back on Nov 25, the price dropped down through the line I would have plotted to indicate the rounded base. Base patterns, which go onto form cup and handle formations, parabolic trends etc....take time more time than most chart formations. As you can see - 8/10/11 Nov - 3 big up days on large volume, but quickly beaten back down. Those buyers who have bought on the way down are exiting positions into buying strength, indicating sellers are still in control.
I would want to see a solid move above 28.5 before dropping my $$$'s into this one. Next resistance point after that is 31 cents. I wouldnt expect a break up through this level quickly, however. An initial move through 28.5 to 31 would more than likely be followed by consolidation around this level. After that, its free running until around 52 cents.
For a quick return, I would probably wait until the stock has broken free of 31 cents.
Have a look at GBG, RRS & MIC for charts that exhibited similar qualities and time taken to break above key resistance levels. RRS has been peppering 3 cents for a while now. I believe the move over the last 2 days is very bullish, although, the 5m share bids certainly helped to get the ball rolling.
Anyways, B2 - comments are appreciated. My charting tools are limited at work, but will have another look at home tonight to see if there's anything I missed.
DPA
SIB
siberia mining corporation limited
