New 52 week lows and chart discussion

Well as predicted new 52 week lows are here let’s look at the possibilities and chart which is not looking great two intra day 52 week lows set long red candle on close with bearish divergence suggests we will see the 4 cents region come this week IMO

Technically the stock has been in a long term downtrend interspersed with occasional spikes only to see the primary trend resume down.

classic pattern emerging as I pointed out a few months ago the Harmani Death Cross never fails

currently in a third wane down as I alluded to there is a gap at 4.7 which IMO gets tested in the next few sessions.

A break of 5 cents no doubt triggers stops set around that point and that 5 cents breaking in my view will be the catalyst that really tests the patience of holders

The problem is there is nothing solid announced around funding only possibilities with scant detail which we have all heard before to be fair .

its the wishy washy talk that’s the issue with the SP if there is a funding agreement why hasn’t it been announced to the market -pretty obvious why not no ?

lower lows in spec stocks on not huge volumes are a big red flag for traders that’s why there is no trading interest in the stock it’s been drip fed out in my view by who time will tell

What usually happens in specs been slowly sold down is there’s a capitulation point where you see volume spikes and an increase in the falls

These weeks before Xmas are a pivotal point for the SP it’s getting close to some key support areas it needs to hold 5 cents in my view or all hell could break lose

TA wise whatever chart you look at daily monthly yearly it’s pretty crook falling well below MA is also a key technical sign of further weakness

my 2 month target based on the current TA
is 3.5 cents breaks that then the 2 cents region could be tested ist Q ２０１９　

it all comes down to where the subs pain point is some of them are well under water and maybe getting close to there sell points who knows

capital preservation should always be above expectations and enthusiasm

Funding is the missing piece in the jig saw nothing has been announced to the market about this here say does not cut it you got that with CAT

Don’t ever forget it was talked up as been in action by late 2017 two years on and nada

in that BBC interview which I suggest you listen to it was said that FBR had many orders in my view the question needs to be asked about that where are they ?

extreme caution in my view



GLTAH