Well it certainly was a breakout, on a volume increase as well. With volume tailing it is expected that the price will fall a bit as well, but it needs to hold support at .031 to validate the breakout. If the 0.031 fails to support then it becomes an increasingly harder resistance line.
The next step though is 0.04 and i would expect the price to consolidate at present level. RSI was a bit overheated after recent run.
I liked this when it held at 0.024 and for those who got in at this level they just picked up a handy 30% increase. Expect some profit taking off the back of a fla market but with volumes now back to "recent normal" levels and assuming the share price holds 0.031 we will have flushed most of them out and can expect a bullish outlook on the chart.
Where this goes i have no idea and depending on whether you use technical analysis or fundemantal analysis always remember that the stock is only worth what someone is prepared to pay for it.....
In the meantime enjoy.
As always Do Your Own Research.
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