It appears that the sellers for ELK are now exhausted (assuming...

It appears that the sellers for ELK are now exhausted (assuming there wasn't a substantial holder selling). While an inevitable drop to 0.24 (a retest of Fridays lows)0.25 was again well defended.

ELK closed at 0.27 which formed a BULLISH HAMMER. One of the strongest reversal signals you can get.

I would have preferred a longer length bullish hammer, on greater volume, but you take what you can get. Looks good for tomorrow.

We need volume tomorrow, to get this baby moving again.

Cheers

eMark