technical view?, page-2

As far as a technical view, I use the monthly chart on this one and we are making higher tops and bottoms and have been for a couple of years.

For a down trend, we need to break through 8c. We have yet to get anywhere near that and the 50 moving average line is above the 10c level. We are getting close to a cycle low on the stochastic on my charts and therefore my gut feeling is if we have not made a bottom we are close to it.

At the lowest I would of considered 12.5c as a potential bottom, 13.5 which it has reached is close enough for me as a bottom, so far it has been rejected quickly. The monthly bar for december could be an early indication of a short term trend change back to the upside.

If January we break above 17.5 cents, december bar high, we should be right for a run up to test the previous high over the following cycle up.

Other than that we may see maybe one more month of sideways movement which may test that low again at 13.5, but gut feeling is that probaly won't happen.

In time, this stock has been spending about 8 to 10 months trending up or down, we so far, are near that level and therefore time indicates the down trend or retracement to be more correct, is almost done.

Only my opinion of course, someone else may have a different reading.