turning point!

Valad Property

Well we IMO are looking at a turning point!
Since the 8th of May on an hourly chart we have had a high of .105 cents (8th may).
Since then it has been steadily declining and formed a double bottom of .064 which also just happens to be the 50% fib retracement support line.
With yesterdays closing price of .069 cents it was the first time the downward trend line has been broken and now at time of righting .071, could we be seeing the first sign that the market is saying we are over sold? I think so.
If so then the next resistance should come at .074 cents and with not much of a lift on the Dow over night we could see the price drift between the support at .064 and the resistance at .074.
Although there does seem to be an S/R line at .07.


Note: there does not seem to be any selling pressure till .10 cents, so any perceived good news at all should see this stock rise.

Les