is it a really bargain, page-5

I will try to address comments to my message.

First of all just over 911K shares were sold on Friday at 4.4c.

Technically speaking

- the stock is in downtrend

- long time support of 4.9c finally has been broken

- next support level is 4c and then 3c

- 6c-6.3c is a major resistance area, so to break it significant volumes and very good fundamentals will be required, when it will happen nobody knows, so an accumulation process will go with a sliding price, as there is no point to buy cheap shares today, tomorrow they will be cheaper

- before the price will start to move up a consolidation stage will be required which unfortunately still has not started yet

In relation to the fundamentals of some believers in specific stocks, I know a numbers of similar examples where the stocks have very strong fundamentals but they are not moving up at all in different sectors such as oil, gold and other.

As a conclusion, the fundamentals only is not enough to drive the price up, a positive market sentiment is required in this regard. It can be a long process for ITC. We'll see.

By the nature I am of a trader style and so far all my investment attempts have failed.

irynka