This chart is viewing the 21( blue), 50 (orange) and 200 (red) moving averages in the weekly timeframe.
I like how the chart is setup because:
1. The share price and key long term moving averages are starting to converge.
2. The share price and short term blue moving average broke above the 50ma and are ranging here after a noticeable move up from the bottom at ~0.2c.
3. The 200ma is flattening, though slowly, still a good sign.
4. The 21 and 50 moving averages are trending upwards.
The share price has been under the 200ma since day 1 displaying a long long downtrend. The indicators are now showing the potential for a trend shift to a long term uptrend. I think the official crossover may occur end of this year or first half next year. I think we will be around 0.9c by end of year but the larger more exciting part is what the share price potentially could be once the trend change occurs.
People were of negative mindset when price bottomed out at 0.1c thinking the stock was dead and that no one was willing to buy but now we've popped up to a new range. Yes it's been a long ride down but as traders/investors you need to let go off the past and be objective. Is now a good time to buy.
Not financial advise, just my interpretation of the chart.
