Its all about where buyers are willing to step up. Called points of impact. Although buyers not exactly stepping up as of yet (they waiting for a trigger, a possible break above a trend line) they are also not letting it go down here (they see value). Whoever it is buying, is just continually reloading the buy side without skewing it one way and causing a frenzy, is the way I see it (each to their own interpretation).
There comes a time where a stocks valuation is just too good to refuse. Yes anything can keep going down but for how long? Eventually someone or two people start seeing monster value
On the weekly as I keep referring to its the same spot around 44 cents where it tested the first time and was instantly bought up. Second time they might be trying to shake weak hand by keeping it here for a while, who knows.
All I know is one decent announcement soon and the buyers on the sidelines waiting for a trigger point will most likely step up.
That 62 cent area for me is the key one. Until we break above that we will continue tracking sideways getting played around with etc. Once that breaks above watch all the rats jump on board. By that stage the ones who bought at 43-45 cents are already 50% up on their initial investment. Also got to remember this is a low liquid stock so depending on how tight our register is this can really move if people start coming in and stepping up.
All nonsense though until we get there. But for now I am only commenting on the current accumulation around 43-45 cents. It seems controlled for me as its been close to 2 months where sellers outweigh buyers but yet cant push it lower cause someone keeps stepping up around those lows.
Thats my 2 cents anyway, not wanting to clog the forum up with the charts as its the same chart everytime until we pass a level. First Level to pass IMO is 48 cents.
Hopefully that makes sense in how Im seeing this
