Hi @slick,I'm attaching a chart basically confirming your...

Hi @slick,

I'm attaching a chart basically confirming your views.

In the previous leg up, that started on the 2nd of Nov '18, you could see quite clearly that the Price was going nowhere as the Volume indicated a huge effort for little reward; in other words, very big volume but the price closed in the middle.

Then we went through an accumulation phase which respected the Low of the Weekly candle forming part of that move up on the 2nd of Nov.

You could see the support in place and being tested and re-tested and holding. Not only that, but there was an upward move of the price in place.

The price behaviour this time is quite different. As you can see, it held up rather nicely and kept surging forward and the Closes on the 7th of May and the re-test on the 14th indicate that support may well be gaining strenght. This support also lines up with the High of the 2nd of Nov'18.

There is always the possibility that this support may be tested a few more times and the Price may even pierce down a bit below but watch the Close on the day that does that. If the close is at or above this 'line in the sand', that indicates strenght. On needs to allow for Time to ellapse and patience is required. Strong moves, to be sustained, need Time; don't expected the Price to move up by tommorrow.

You cannot see this on the chart, but the Fib Extensions take the next leg up to at least the 20 cents mark. This is also typical of stocks breaking out from an Horizontal line, which tend to at least double in their next leg up.

In the end, the Price will move according to the Fundamentals of the company and, so far, I'm quite comfortable holding in for the longer run.

Cheers,

socccer