paschal whats your chart say, page-2

The daily MACD is showing a bullish divergence on the most recent bottom. The weekly MACD has looks as though it could turn bullish at any time and the RSI has just turned upwards on the weekly. Our friends look as though they managed to accumulate about 783,000 shares today on a declining price. Maybe more.

On any other chart I might say: get in and set a tight stop loss, this looks like a good bottoming pattern.

The difficulty I see is this: its still a large enough stock to be short sold and still small enough to really suffer from a big short seller;

It got that kind of head and shoulders look to it, which could be overcome by a nice upturn in the weekly MACD, but we didn't see that;

The negative DMI is still in the ascendant, making it vulnerable to short selling.

If I was confident that the bigger players were going to back it to a new high at least, I would have no trouble encouraging new and small players in. Trouble is I'm not sure they wouldn't cut and run at the 34c mark, making profits up and down on the back of the paper. The issue here is not the process of making profits against smaller traders, that happens all the time, but they've got to let the range run enough so that they can at least get their brokerage back, otherwise they will scare them off trading altogether and that's not good for anyone.


I really think a turn in the weekly MACD and a few other things would get it to 66c-72c, but I also think a short sell strategy could take it to 15c pretty quickly, so its risk/reward might not be everybody's cup of tea.

One of the things about long plays like this is: everybody has to stick together.

That's the main way you create momentum.

Not sure x,y and z have reached a consensus on this one yet.