chart 26nov

Just a daily today guys.



It's not looking too flash. Failed to close above the 38.2%FibR of the downtrend on Nov16. With today's movements we have closed below 0.96, the 38.2% FibR of the upswing. The bollingers have tightened up recently signalling upcoming volatility. I would have bet that it would be upward but we may see a downward move to the 50% FibR of the upswing, 0.85.

Despite this gloomy forecast, 3 things are stopping me from selling.
1. Today's volume of 400k is not significant enough to confirm a break.
2. HotCopper people and their contact with the company, if the crew is due back for the AGM I think this could all evaporate with a positive announcement.
3. Management has continued to surprise me over the last 14 months of holding, always for the better.

This could be manipulation, taking advantage of weak buy depth to push below a clear technical support to scare/trigger small fry into selling. It may just be sellers taking a healthy profit for Xmas shopping. Either way I won't be selling any shares until $2. The lack of volume tells me it's not a leaky boat. Next week should be a good week. I'm not buying because I'm already invested in stocks I think are ready to run.

As per usual DYOR, this is not investment advice. I'm not a professional investor, and I probably failed a unit this semester. When in doubt use your gut feeling, not mine.