If we just look at the chart and ignore how much the sp is...

If we just look at the chart and ignore how much the sp is manipulated,,, the retracement started from 11.5c and stop at 8.4c - that is 3c retracement which is about 25%

8.4 - 8.5 has been the support in October

Profit taking started when the sp hit 11.5c , all the way down and stoped at 8.4c with average 1+ million volume

Little volume today could suggest sellers are not willing to sell at this level and it looks likely 8.5c support is strong

MACD has been showing bullish divergence since Aug 2011, the speed line (blue) is going to cross over the signal line(red) in the next few days. Suggests another up leg is on the card

Suggest to place a stop at 8.3 or 8.2 just in case ...this is a penny stock, anything can happen ...

Overall the chart looks bullish .
DYOR