I know some people don't follow or like charts much, but this may be a technical sell off for a reason. The weekly chart needs to break it's downward momentum by the 50ma. Its the only chart not going in the right direction. I posted the chart yesterday. It got sold of twice at that level 45.5c level because the 50ma was angling down. This sell off when it rallies will cause that 50ma to flatten and then price will break through that 45.5c level. Have seen it a number of times before, predominantly in day trading. It basically becomes a stop eating sell-off wrong footing traders before resuming it's normal action. What happens is that it rallies quickly again.
It is one of the oldest tricks in the book for the big players to run stops and acquire shares. Scares the geebies out of short traders..! Just hang in there for a bit longer, and you will be surprised to see how this works out.
TPT Price at posting:
33.0¢ Sentiment: ST Buy Disclosure: Held
