Anyone who discounts the valkue of technical analysis is only...

Anyone who discounts the valkue of technical analysis is only hurting themselves. At heart I am a pure fundamntal investor. Technical analysis is equally important, and a tool that you should have in your arsenal if you want to be a good trader. Technical analysis will show you the psychology of the market and what the market thinks. If the trend is going downwards than it must be for a fundamnenal reason - in this case becuase we are not drilling and expecting any important annoucements anytime soon (of course we are waiting to resume mining).

Fundamnetally this is a strong company via EV and has a large amount of potential through its diversification of projects. Saying this, the market trend is downwards. Based on my technical analysis I determined that the general lowest support line is around 26.5 cents (thats what the market believes this stock is worth before the hype). If it breaks support than the market thinks that this one is really going no where for a while and its better of putting money in other stocks.

Do we think this? No becuase we are investors. My purchase was used through both fundamental and technical analysis. If someone told you they always picked the bottom of the market they wouldnt need to trade the market. Technical analysis is all about trying to determine investor sentiment. At the moment the investor sentiment is bearish though we are at the bottom support line - so I am willing to risk that it wont go much further. Obviously the longer the drilling delays the more the sharepirce will drift downwards. This shareprice has a large amount of cash, so I know there wont be a capital raising anytime shortly; thus I am happy to bet against the trend.