Having traded EBT twice in the last four months and made money...

Having traded EBT twice in the last four months and made money from it, I dissagree with some of what you say. Technically the chart is still in downtrend, at best you can say its flat.

200 day moving average is still sloping down and price was below this level yesterday. Only have a 4 year chart of this but i can say that it recently equalled its all time low, and would need to increase 5 fold to make an all time high, not characteristics of a bullish stock.

Fundamentally, this company is burning cash and needed a placement to raise money. However, There is a Huge high profile player in this stock with connections to influential people/positions, i'm sure he's behind the Nifty Nev move and todays appointment. This player has bought the stock at much higher levels and i believe he is currently accumilating this stock, averaging down.

Buying this stock and holding is like buying a promise and waiting for the delivery, if it comes off then this company will sky rocket with its technology, and become a takeover target. But who wants to sit around with hard earned doing nothing and waiting for a year or more for a turn around that may never come?
Especially when there are others in this sector with greater prspects, making profits, and charts that are genuinely in an uptrend.

EBT remains a trading stock not an investment one (in my opinion). Potential trade would be Buy at 18c and sell at 21c with a stop loss at 16.5c. Risk to reward is 1:2.

This is not a recommendation just an observation of support and resistance.