I am of the view it is time to start looking at the glass being...

I am of the view it is time to start looking at the glass being half full rather than half empty.  My reasoning is as follows;

Starting with the higher time frame .... weekly chart  the following observations are made
1. Gap closed for those who believe in gap theory
2. Close of the day is at the 61% Fib retrace level @ 88 cents normally  a high probability FIB reversal point
3. A monthly (P) , weekly(S) daily (T) turning point is been indicated



Moving to the daily time frame  it is noticed that
1. the 200 day moving average  should act as support around the 81/82 cent level.  
2. A support zone (79-89 cents) exists that should buffer any further falls
3. We had 6 consecutive down days and normally day 7 or 8 put in a reversal
4. Stochastics shows very oversold situation



On the very lower time frame and the 15 min chart illustrates the best (with an outside bar) that some  shorters are of the opinion that it is time to cover as further  gains will be hard to come by.  Persistent buying   creating a 4 cent range  on roughly 400k shares reflected  the beginnings of a reversal for the last 15 mins of the day. I am well aware that it is a tiny green shoot but a reversal needs to start somewhere. That was also the strongest buying effort in the last couple of  days which resulted in a close above the 15min down trend line.



In  my opinion we are at or very close to a reversal. From a FA point of view there is nothing that indicates  that the share price should fall below the  daily 200ma which is bear territory.  GLTA