A bit of a look at the technicals.In the period May13 to Nov13,...

A bit of a look at the technicals.

In the period May13 to Nov13, there was price resistance at about 74c. The SP hit this a couple of times but couldnt break through.

Then by Dec13 it had broken through and from then to the present the SP has dropped back to rest on the 74c area a number of times. A classic case of support becoming resistance.

In recent times 85c was resistance, although it has broken through that twice to go up to a dollar, and has now retraced close the 85c mark again.

So at the moment I dont have a problem with the current retrace. As long as it stays above 85c then that would just become the new base, and potential surge to $1.20 with the next good announcement.

We might even get a bounce today or tomorrow!