Since February 26.5/27 cents has been resistance. It was only a...

Since February 26.5/27 cents has been resistance. It was only a few days ago that it finally broke through and went to 30. In charts like this is it relatively common to have a retrace back to the old resistance which then becomes support before moving upwards.

When you think about it there is some sense in this as many of the people who bought months ago at 26.5/27 are happy to finally escape at a small profit or even breakeven. These sellers will be holding back the price.

The biggest worry would be if the POG dips at the same time the share price is retracing when it could get trapped below 27 cents again.