shareholder update, page-19

IMO,

according to my view on the charts,

in the absence of further news for the shares direction, its direction will be determined by the dual tweezer bottoms which occurred on:

1) 16th and 17th of November 2009

and

2) 30th and 31st of December 2009.

These were two psychological points on the chart need considering in my view - in that were not influenced by any strong direction in money flows, nor any overwhelming vloume accumulations or high volatility.

To support the down trend continuing, i can say that there has been no double bottom yet and therefore it stands to reason that another support line needs to be established before then testing a price channel bottom.
I think that the double bottom might come after finding support at the 3.1 cnet level, which will bob around a little before testing a low lying price channel near the 2.6 - 2.7 range.
Then i think that the charts say there will be a price channel from 2.6 - 3.3 and that somewhere in between will become the true bottom.


L