Oct charts

Watching PSY the last couple of months has been frustrating & depressing to say the least. One can only watch & wait for a sign of change. Maybe we are finally about to see a real one.

The daily chart shows that since the 3 Aug we have been in a trading range of $0.012 except for a three day period in early Sept. when the sp rose above the range and then retreated again on small volume which at the time looked like profit taking & still does, so maybe that was just a couple of smart traders on HC.
The sp now seems to be roughly following the usual up trend angle after what I hope is a failure by the mm to push it down any more. It would be a good place to buy at this level if one was so inclined. Once it gets above the mid range it may be too late. (It could either get sold down again or consolidate in a higher range.)

The current short term up trend line was previously placed as a cycle line parallel to the pitchfork & as a potential reaction line (as are all the trend lines shown on the chart) & after a couple of false starts on the 4^th & again on the 5^th Oct (High volume day, shooting star candle & failed to make new low) the sp is now above the line & rising on increasing volume. (usually a good sign).
The stochastic has crossed & is rising sharply from a very low base. The 5 & 15 day EMA has not yet crossed.
This higher close may just be the signal that the mm is going to now start to move the sp up to the next area. A close above $0.10 would potentially break the 12 month down trend (again)

Current sp closed at $0.094 & in a minor congestion area of approaching trend & resistance lines.
If or when it gets above the central area of the range box & the approaching down trend lines I would expect to see selling & profit taking. Particulalrly as it gets near the longer term down trend lines (Thick Pink & Green lines)
I doubt that the mm would be the one selling though as it would hardly seem worth the efforts of the last couple of months manipulations.
Ideally it would be good to see the sp remain in the channel formed by the dotted & solid red trend lines and we got a few more days of rising volume to verify this is a reversal & not just another profit taking exercise.

The weekly chart.
The stochastic appears to be crossing for the first time in 5 weeks. The last time coincided with the last profit taking rally & close above $0.10.
The charts on all time frames are very ordinary atm. The monthly is still looking mildly bullish as the last 4 monthly candles as at the end of Sept are still contained inside the large green candle & has so far failed to make any new low.

Volume.
Looking at the last 9 & a bit weeks volume & price there has been 16,946,032 shares traded. The high was $0.105 & the low $0.089 giving us an average price of $0.097.
So using my usual method of wondering what is going on & then making a guess I believe that at best the mm has managed to accumulate between 3,626,244 and 2,541,905 shares during that period at an average price of $0.093.
At any rate, despite the mm’s best efforts he has not been able to force the sp down (so far) to retest that previous $0.086 low.
So from that failure I am assuming that someone has been doing a lot of work trying to flush out old hands & accumulating but has had to churn a lot to accumulate at the lower end of the range. It may be that he is about to give up & let the market drive things for a change.
We will see the outcome in the coming week I guess. Maybe an announcement is coming soon.