I don't claim to be a charting expert by any means, however I have taken a stab at charting my interpretation of the daily chart.
- We see a large period of capitulation following the Hallmark JV
- Late August following weak Maro markets LWP sees .008 support tested and broken down to .007 (Mitta called this)
- Early September Support rallies once again at .008 and .01 becomes resistance
- In early October the accumulation becomes more apparent in the MFI indicator and several tests of the .008 support line.
- By mid-late October the .008 support was broken
- New support line becomes .006
- Down trend continues while simultaneously the stock is being accumulated.
- Where we stand now
- Support needs to hold .006
- Further price catalysts need significant volume to push past the .008 resistance line
- A close with significant volume above .008 should see a breakout of the descending triangle
Again this is my interpretation and I am still learning the ways of TA so take what I have pointed out with that in mind.
DYOR, Invest to your risk profile, YOLO #FEELTHEBERN
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