I love it when someone posts a chart on the chart thread, thanks...

I love it when someone posts a chart on the chart thread, thanks Jfibbo.

I am not very good at reading charts, but I have been watching the actual trading closely and my thoughts were that this Monday was a good time to buy again as I didn’t think it would drop much further. Volume was low last week, and there were not as many panicking sellers last Monday as I expected based on the negativity and disappointment expressed on the share forums. There were also lots of enthusiastic buyers last Monday who pushed the price higher at open.

In fact, Sunday night when reading lots of posts I thought “this is an overreaction – the sky is not falling in chicken licken." Most of the time last week the trading was between 62c - 65c with occasional pushes above and below but generally only on low volume. So, it was trading in a fairly tight range,which no doubt has some meaning for those who are into charting. And the price was pushed lower at the close to instill fear in those still holding. So, my thoughts are it is not going to drop to 40c or 50c, especially as there are too many buyers wanting to top up and fill up at what they think is a cheap price.