The perfect storm, page-122

Looks like there were enough traders watching that resistance level and ready to take profit. This is a narrow channel so if the price continues to hold the channel, there's not much downside before it should bounce higher again. The resistance was two-fold. The price has been gaining more rapidly over the last two days and hit the top of the channel and that also corresponded to the horizontal resistance line. That's enough for many traders to hit the sell button. It doesn't mean much if positive news comes out so I didn't sell into it. Downside to the bottom of the channel is only another cent from here and upside on news is much larger. Some of those that just sold for technical reasons might be watching to buy back in on the bottom of the channel at around 27.5-28c.