There was an attempt to support the market just above 4cps, which eventually failed.
Perhaps that failure will prove to be climactic..... I don't know......
There is nothing in the wave numbers currently, that would make me race out and buy it (I know nothing about this stock whatsoever).
What happens if/when the price gets back to the line drawn across the low 4cps will tell the short term story.
That level should provide resistance now, and if it does, hang back and watch for a bit longer, perhaps it will re-test the recent lows,
but if it meets little resistance and easily re-enters that level again,
the supply that has been dragging the price down for a while may have sold and is gone.
cheers
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