Around 2/3 of Wednesday's volume within the first hour, definitely picking up interest now. With the technicals now showing higher highs and higher lows will be interesting to see where we are in the coming weeks/months. wouldn't be surprised to see someone starting to take a large position in this company, if they haven't already with the news flow to come. who knows where we will be in 6 months time but the reward definitely outweighing the risk here. I will be happy to add to my position when I can in the 30's.
Ive added my chart to show that after our recent run we then had a little sell off on very low volume and now we are beginning another run to the upside. We have clearly broken through downtrend resistance that has been in affect since April highs.
To guess where this could end up is just speculation as always, but I use Elliot wave theory to try to understand the type of cycle we are in and ball park prices to start to take profits.
Wave 1 tends to be the smallest wave and sets all supports for the wave 2 retracement and resistance lines for the wave 3 which tends to be extended to the 1.61 fib which is around $1.10 (100mil mc) in this case. All just speculation, I could most certainly be wrong, this is just how i see it at current times.
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