We are heading upto a major resistance in the form of a 5 year down trend line at the 24-25c level.We need to break through this in the coming weeks.I personally would like to see a break through on high volumes and then a retrace to the trend line and bounce of it effectively turning it into a major support level if this trend line is breached 30c will come into play quickly then 40c.We have currently broken above the upper bollinger band this can cause a elastic type effect holding the sp up eg:retracting it back inside the upper band I believe that is the explanation to todays action on market(upper bollinger playing catch up).Worse case scenario we will head to the trend line bounce of the trend line with low volume there for reversing the current uptrend to a continuation of the long term down trend.this is all T/A that I have mentioned so far with our current fundamentals looking strong lets hope they combine to smash that down trend line.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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75 | 45816671 | 0.003 |
19 | 44427935 | 0.002 |
12 | 33278647 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.006 | 33565656 | 36 |
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