NOR... TA theory, page-3

Trend theory was invented by William Gann, along with trendlines, gann fans and boxes, swing charts and a number of other tools.
People have since made many variations of these rules and applied them to all manner of different charts but according to Gann a trend up is confirmed on the 12th weekly bar up from a low or at the point that the high is broken without breeching the low of the starting point (turning point) anytime after 11 bars. It remains intact until the reverse occurs. This is trend theory....this is where it comes from. Anything counter to the direction is considered a counter trend in the over all trend until the 12 week rule is satisfied.

The low in this case is 1c. So for the uptrend to be finished you either need 1c to be broken or price to travel down from a high for 11 weeks, with the 12th week or week thereafter breaking the lowest point in the move. People forget when they zoom in too much to penny stocks and this is largely because stocks move much faster than they did before computers and mass availability of information. Hence why its dangerous and unpredictable trading in low cap, low liquid stocks.

But officially....strong uptrend, with the last 2 weeks being a counter move....the time is very important when assessing the situation...