PSY Charts

PSY is definitely a pattern follower & seems to like flags & pennants. It is currently forming an expanding wedge or reverse flag (whatever one wants to call it I guess). These expanding wedges are bearish in a down trend & if it completes, the the downside target is at $0.135.
The weekly chart shows the last 3 years patterns, all of which were flag types.
They all showed a significant retracement after each breakout before resuming the up trend.
This latest flag looks no different & is also part of the 3 year head & shoulders pattern. I believe that the 3 year trend is bullish.
The weekly candle building atm does not indicate a continuation down at this stage & is showing $0.14 as support if the sp hits $0.13 - 0.135 is not a problem in the big scheme of things. (a 1/2 to 1 cent over or under a target is quite acceptable)
A close at $0.14 on higher volume would probably be an indication of further falls though but as the accumulation is still on going while we wait for the big announcement that target could become $0.115 - 0.12 to complete the head & shoulders pattern.
Still no big deal really as its clear that PSY has a bright future.
Accumulation is tricky to spot & harder to understand, particularly when we see the sp constantly moving up & down but that's how they do it.
If accumulation is happening as we think then it certainly didn't start last week, its a long term process.
Professionals would be well aware of the potential of the technology & plan accordingly.
Just sit back, accumulate some more if you can or want to while its down at these low prices & bide your time. When the big one comes the sp will be rerated, be patient & stop complaining.