Best warn you first that some won't like my post but here goes :
The buyer at 15 cents saw a gap and was hoping for another dead cat bounce. This can be seen on the daily chart that interests me less than does the weekly and monthly where you can stand back and see more.
They were probably thinking a quick trade is a good trade.
They have failed to see the gap lower down at .093 which is possible eventually.
Notice also the volume.
This market is horrible and anything can happen.
The weekly and monthly charts that I would concentrate more on do not look good.
Sorry to be the bearer of bad news but I am giving an honest opinion.
I have learnt so much from the posts of others and I'm hoping you can distinguish between up and down ramping and honesty.
This is a company that has very little history comparatively speaking and I would like to see it succeed.
I could be horribly wrong but I don't think I am and should I turn out to be correct please do not promote me to guru status. It is then I will make a terrible mistake.
Unfortunately people look at market depth to try and guess support but buyers can disappear in the blink of an eye.
And to the lovely Daisey I would hate to see you holding your shares at a paper loss. You are definitely no fool and do excellent research.
So much smoke and mirror stuff in the market unfortunately.
Feel free to disagree but I do wish you all the best.
Best I say no more.
MMI Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
