maybe next week...., page-2

Hi Zzz’s.
Yes it’s looking good.
Looks like a classic breakout pattern this week.
A rise on rising volume then a gap up to break the old resistance with a substantial increase of volume followed by a pullback to the week low & a close above the low. If it follows thru this coming week then $0.65 $0.70 or more is on the cards.
I dare say that some will have a differing outlook to mine though.


The current run started back on Frid 9th with low volume. There were 10 trades, volume 23,200 and an 8 cent rise.

Monday 12th volume increased substantially with 480,000 traded. There were 33 trades & most of them appear to be part of larger orders. Closed up 5 cents on the day.

Tuesday gapped up 4 cents on the open & was up 10 cents at one stage.
Total volume traded was 971,800. There were 133 trades, 90 of which were a part of larger orders.
Volume for the breakout was more than 3 times the 50 day moving average. I think it was being accumulated Monday & Tuesday.

Wed there were 25 trades & a sell down to the weeks low at $0.53. Volume dropped to 319900. I am guessing that a lot of these would have been traders.

Thursday there were 12 trades. Volume lower at 118600 & supported again at the weeks low closed up 2 cents. More traders getting out.

Friday saw another spike to $0.60 with support at the $0.53 week low again.
There were 18 trades Friday 12 of which were part of larger orders & so I don’t think would have been traders.

Fridays close at $0.55 is the highest close since 20th July and at this stage the continuing support at $0.53 looks to have been a good chance to get set for a continuation of the pattern.

The down side though is that if it does retrace again thru a lack of follow up info which is entirely possible, it will probably get down to around the $0.40 $0.45 levels.

Having said that though, the price & volume of last week looks a bit more than just a few speculators after a trade, so I expect any pull back if there is one to be short lived & probably by traders.
I think we will see the sp move up again this week.

Good luck..